Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,900 shares of the electric vehicle automaker’s stock after selling 1,850 shares during the period. Nisa Investment Advisors LLC’s holdings in Rivian Automotive were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RIVN. Charles Schwab Investment Management Inc. lifted its position in Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after purchasing an additional 2,035,831 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Rivian Automotive by 1,870.7% in the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC boosted its stake in Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after buying an additional 124,950 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Rivian Automotive by 543.8% during the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after acquiring an additional 120,544 shares during the period. Finally, Renaissance Capital LLC raised its position in Rivian Automotive by 20.0% in the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock worth $9,958,000 after acquiring an additional 148,197 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 18,501 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares in the company, valued at approximately $5,278,500. The trade was a 4.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,879,847.36. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,142 shares of company stock worth $4,958,860 over the last ninety days. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Stock Up 2.2 %

Shares of Rivian Automotive stock opened at $12.77 on Monday. The stock has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $12.97. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.85. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of -2.28 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Guggenheim decreased their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Barclays increased their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, UBS Group boosted their target price on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average target price of $15.52.

Rivian Automotive Company 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.