T. Rowe Price Discloses 10.3% Stake in Rivian Automotive
Ticker: RIVN · Form: SC 13G/A · Filed: Jan 10, 2024 · CIK: 1874178
| Field | Detail |
|---|---|
| Company | Rivian Automotive, Inc. / De (RIVN) |
| Form Type | SC 13G/A |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**T. Rowe Price still owns 10.3% of Rivian, showing continued institutional confidence.**
AI Summary
T. Rowe Price Associates, Inc. filed an amended SC 13G/A on January 10, 2024, disclosing its ownership in Rivian Automotive, Inc. / DE as of December 31, 2023. The investment firm now beneficially owns 98,252,862 shares of Rivian's common stock, representing 10.3% of the class. This matters to investors because it shows a major institutional investor, T. Rowe Price, maintains a significant stake in Rivian, indicating continued confidence in the company's long-term prospects, despite a slight decrease in their overall percentage ownership from previous filings.
Why It Matters
This filing confirms a major institutional investor's continued significant ownership in Rivian, which can influence market perception and potentially provide stability to the stock.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for other investors.
Analyst Insight
A smart investor would note T. Rowe Price's continued significant, albeit slightly reduced, stake in Rivian as a sign of ongoing institutional interest, but also consider the slight decrease in percentage ownership in their own due diligence.
Key Numbers
- 98,252,862 — Aggregate Shares Beneficially Owned (This is the total number of Rivian shares T. Rowe Price controls, indicating their substantial investment.)
- 10.3% — Percent of Class (This percentage signifies T. Rowe Price's significant influence as a major shareholder in Rivian.)
- 45,398,371 — Sole Voting Power Shares (These are the shares T. Rowe Price can vote independently, showing their direct voting influence.)
- 97,061,971 — Sole Dispositive Power Shares (These are the shares T. Rowe Price can sell independently, reflecting their control over a large block of stock.)
Key Players & Entities
- T. Rowe Price Associates, Inc. (company) — the reporting person and institutional investor
- Rivian Automotive, Inc. / DE (company) — the issuer of the securities
- 98,252,862 (dollar_amount) — aggregate shares beneficially owned by T. Rowe Price
- 10.3% (dollar_amount) — percentage of Rivian's common stock owned by T. Rowe Price
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- T. Rowe Price will likely maintain a significant, but potentially slightly adjusted, stake in Rivian over the next year. (T. Rowe Price Associates, Inc.) — medium confidence, target: 2025-01-10
- Rivian's stock price may experience some stability due to the continued institutional backing from T. Rowe Price. (Rivian Automotive, Inc. / DE) — low confidence, target: 2024-07-10
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 4) to a Schedule 13G, indicating that T. Rowe Price Associates, Inc. is updating its previously reported beneficial ownership of Rivian Automotive Inc-A common stock as of December 31, 2023, under Rule 13d-1(b).
How many shares of Rivian Automotive, Inc. does T. Rowe Price Associates, Inc. beneficially own, and what percentage of the class does this represent?
As of December 31, 2023, T. Rowe Price Associates, Inc. beneficially owns an aggregate of 98,252,862 shares of Rivian Automotive Inc-A common stock, which represents 10.3% of the class.
What is the extent of T. Rowe Price's voting and dispositive power over these shares?
T. Rowe Price Associates, Inc. has sole voting power over 45,398,371 shares and sole dispositive power over 97,061,971 shares. They report zero shared voting or shared dispositive power.
When was the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What type of reporting person is T. Rowe Price Associates, Inc. according to this filing?
T. Rowe Price Associates, Inc. is designated as an 'IA' (Investment Adviser) type of reporting person, as indicated in Item 12 of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 10, 2024 regarding Rivian Automotive, Inc. / DE (RIVN).