T. Rowe Price Discloses 10.3% Stake in Rivian Automotive

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

From the Filing

0000080255-24-000009.txt : 20240110 0000080255-24-000009.hdr.sgml : 20240110 20240110135646 ACCESSION NUMBER: 0000080255-24-000009 CONFORMED SUBMISSION TYPE: SC 13G/A CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240110 DATE AS OF CHANGE: 20240110 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Rivian Automotive, Inc. / DE CENTRAL INDEX KEY: 0001874178 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-93085 BUSINESS ADDRESS: STREET 1: 14600 MYFORD ROAD CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: (888) 748-4261 MAIL ADDRESS: STREET 1: 14600 MYFORD ROAD CITY: IRVINE STATE: CA ZIP: 92618 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRICE T ROWE ASSOCIATES INC /MD/ CENTRAL INDEX KEY: 0000080255 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200] ORGANIZATION NAME: 02 Finance IRS NUMBER: 520556948 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 100 EAST PRATT ST CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: (410)345-2000 MAIL ADDRESS: STREET 1: P.O. BOX 89000 CITY: BALTIMORE STATE: MD ZIP: 21289 SC 13G/A 1 rivn13gadec23.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 4) RIVIAN AUTOMOTIVE INC-A (Name of Issuer) COMMON STOCK (Title of Class of Securities) 76954A103 (CUSIP NUMBER) December 31, 2023 (Date of Event which Requires Filing of Statement) Check the appropriate box to designate the Rule pursuant to which this Schedule is filed: [x] Rule 13d - 1(b) Rule 13d - 1(c) Rule 13d - 1(d) 1. Name of Reporting Person T. ROWE PRICE ASSOCIATES, INC. 52-0556948 2. Check the Appropriate Box if a Member of a Group NOT APPLICABLE 3. SEC Use Only 4. Citizenship or Place of Organization Maryland Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power* 45,398,371 6. Shared Voting Power* 0 7. Sole Dispositive Power* 97,061,971 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 98,252,862 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares NOT APPLICABLE 11. Percent of Class Represented by Amount in Row 9 10.3% 12. Type of Reporting Person IA *Any shares reported in Items 5 and 6 are also reported in Item 7. Item 1(a) Name of Issuer: RIVIAN AUTOMOTIVE INC-A Item 1(b) Address of Issuer's Principal Executive Offices: 14600 MYFORD ROAD, IRVINE, CA 92618 Item 2(a) Name of Person(s) Filing: (1) T. ROWE PRICE ASSOCIATES, INC. (Price Associates) Item 2(b) Address of Principal Business Office: 100 E. Pratt Street, Baltimore, MD 21202 Item 2(c) Citizenship or Place of Organization: (1) Maryland Item 2(d) Title of Class of Securities: COMMON STOCK Item 2(e) Cusip Number: 76954A103 Item 3: The person filing this Schedule 13G is an: X Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940 Item 4: Reference is made to Items 5-11 on the preceding pages of this Schedule 13G. Item 5: Ownership of Five Percent or Less of a Class Not Applicable Item 6: Ownership of More than Five Percent on Behalf of Another Person (1) Price Associates does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Associates serves as investment adviser. Any and all discretionary authority which has been delegated to Pri