Mutual Advisors LLC Sells 14,536 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mutual Advisors LLC decreased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 46.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,663 shares of the electric vehicle automaker’s stock after selling 14,536 shares during the quarter. Mutual Advisors LLC’s holdings in Rivian Automotive were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of Rivian Automotive by 52.5% during the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after purchasing an additional 17,341,786 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rivian Automotive by 1.8% during the third quarter. Geode Capital Management LLC now owns 13,000,392 shares of the electric vehicle automaker’s stock worth $145,550,000 after buying an additional 223,860 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $51,693,000 after purchasing an additional 2,035,831 shares in the last quarter. abrdn plc boosted its position in Rivian Automotive by 17.8% during the third quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock valued at $38,587,000 after purchasing an additional 518,561 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Rivian Automotive by 2.1% in the third quarter. Swiss National Bank now owns 2,198,300 shares of the electric vehicle automaker’s stock valued at $24,665,000 after acquiring an additional 45,200 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $12.71 on Wednesday. The firm has a 50-day moving average of $13.30 and a two-hundred day moving average of $12.90. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The stock has a market cap of $12.97 billion, a P/E ratio of -2.27 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.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 363,142 shares of company stock worth $4,958,860. 2.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RIVN. JPMorgan Chase & Co. lowered their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. Mizuho lowered their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Truist Financial upped their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and a consensus price target of $15.52.

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.