Written by Cláudio Afonso | LinkedIn | X
Virtu Financial disclosed in a recent SEC filing that it acquired 404,875 shares of Rivian in the first quarter of the year. With the last closing price at $10.70 per share, this new position is valued at approximately $4.33 million.
The firm previously invested in the electric vehicle startup, initially purchasing 16,765 shares in early 2022 when Rivian’s stock price was significantly higher. Throughout the following quarters, Virtu adjusted its holdings, peaking at 146,008 shares in mid-2023.
As Rivian’s stock price declined last year, Virtu sold its shares but has now returned with a substantially larger position, nearly tripling its peak ownership.
Virtu’s Rivian Holdings
| File Date | Effective Date | Form | Reported Shares |
|---|---|---|---|
| 2024-05-20 | 2024-03-31 | 13F | 404,875 |
| 2023-11-14 | 2023-09-30 | 13F | 0 |
| 2023-07-27 | 2023-06-30 | 13F | 146,008 |
| 2023-05-01 | 2023-03-31 | 13F | 103,751 |
| 2023-02-15 | 2022-12-31 | 13F | 20,835 |
| 2022-11-07 | 2022-09-30 | 13F | 64,753 |
| 2022-08-09 | 2022-06-30 | 13F | 11,311 |
| 2022-05-17 | 2022-03-31 | 13F | 16,765 |
According to data from Fintel, Rivian currently has 1,114 institutional shareholders holding a total of 649.4 million shares.Besides Amazon, its main shareholder, the largest ones include Vanguard Group, Price T. Rowe Associates, and BlackRock.
Founded in 2008 and headquartered in New York City, Virtu Financial is a financial technology firm specializing in market trading across various asset classes, including equities, fixed income, currencies, and commodities.
Virtu has recently signed a strategic partnership with the trading platform 360T to provide integrated FX Trading Analytics and Transaction Cost Analysis (TCA) services. The company utilizes advanced algorithms and high-frequency trading strategies to provide liquidity and ensure market stability.
According to a form filed last week, the CFO Claire McDonough sold 3,210 shares on May 16 at $10.25 per share, totaling approximately $32,902.
Conducted under a Rule 10b5-1 trading plan, the sale was previously adopted by McDonough on June 14, 2023, the filing discloses. Following these transactions, McDonough’s direct ownership in Rivian Automotive stands at 405,422 shares of Class A Common Stock.
NEVER MISS AN UPDATE
The automaker has been urging early pre-order holders to finalize their purchase of an R1 model by the end of September or risk forfeiting their grandfathered pricing discount of about $18,000.
This discount enables customers to lease a base R1T for $420 per month with an initial payment of approximately $7,000. In an email sent to all the reservation holders, Rivian says “Now is the time” to take advantage of the discount of “approximately 20 percent”.
The EV manufacturer confirmed last week that is partnering with Google on Google Cast and YouTube integration.
Drivers will now have the capability to stream high-definition video content with premium sound directly to their vehicle’s screen, using both a native YouTube app and Cast-enabled apps on their phone or tablet.
The company has recently reported 13,980 vehicles produced in the first quarter of the year of which 13,588 were delivered to its customers. Despite having previously guided a 10-15% quarter-over-quarter drop from the fourth quarter, Rivian is on track and reaffirmed its 2024 production guidance of 57,000 vehicles.
Written by Cláudio Afonso | LinkedIn | X
