Brighton Jones LLC lowered its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) by 9.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,821 shares of the electric vehicle automaker’s stock after selling 1,473 shares during the quarter. Brighton Jones LLC’s holdings in Rivian Automotive were worth $155,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in RIVN. Assenagon Asset Management S.A. boosted its position in shares of Rivian Automotive by 1.7% in the second quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock valued at $492,000 after acquiring an additional 604 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after acquiring an additional 670 shares during the period. GAMMA Investing LLC boosted its position in shares of Rivian Automotive by 28.0% in the second quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock valued at $47,000 after acquiring an additional 760 shares during the period. Certuity LLC boosted its position in shares of Rivian Automotive by 8.1% in the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock valued at $145,000 after acquiring an additional 815 shares during the period. Finally, Sanders Morris Harris LLC boosted its position in shares of Rivian Automotive by 8.9% in the second quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker’s stock valued at $136,000 after acquiring an additional 823 shares during the period. Institutional investors own 66.25% of the company’s stock.
Rivian Automotive Price Performance
Shares of RIVN stock opened at $10.45 on Monday. The stock’s fifty day moving average is $12.04 and its 200-day moving average is $12.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. The stock has a market capitalization of $10.40 billion, a PE ratio of -1.81 and a beta of 2.03. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.61.
Insider Activity at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,876 shares of company stock worth $2,153,551 over the last 90 days. Insiders own 2.30% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $19.00 target price on shares of Rivian Automotive in a research note on Monday, September 30th. UBS Group cut their target price on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lowered Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $16.00 to $13.00 in a research note on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and a consensus target price of $17.09.
Read Our Latest Analysis on RIVN
Rivian Automotive Profile
Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.
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