Fred Alger Management Adds to its Rivian Stake

According to a recent Form 13F filing submitted to the SEC, Fred Alger Management, LLC disclosed a noteworthy and bullish position in RIVN stock. Here’s what you need to know about Rivian Automotive, Inc., as well as Fred Alger Management’s position in shares of RIVN stock:

About Rivian Automotive, Inc. (NASDAQ: RIVN)

Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California. Learn more about Rivian Automotive, Inc. on their website here

Fred Alger Management Position in RIVN

According to the most recent 13F filed by Fred Alger Management, the firm added 72,802 shares of RIVN stock to it holdings in the recent quarter. That brings their total long position in Rivian Automotive, Inc. to 534,231 shares, representing approximately 0.0605% of the entire 883,400,051 RIVN shares outstanding. Based on the most recent closing price of $34.38 per share of RIVN, the entire Fred Alger Management position in Rivian Automotive, Inc. stock is worth roughly $18,366,861.78.

Summary

Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Fred Alger Management, Llc. Also be sure to check out more recent 13F filing analysis news here.