Janney Montgomery Scott LLC Has $801,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Janney Montgomery Scott LLC cut its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 39.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,220 shares of the electric vehicle automaker’s stock after selling 38,894 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rivian Automotive were worth $801,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RIVN. John G Ullman & Associates Inc. lifted its stake in Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after acquiring an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the period. Tradition Wealth Management LLC grew its stake in Rivian Automotive by 11.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock valued at $132,000 after buying an additional 1,250 shares during the last quarter. Blue Trust Inc. boosted its stake in Rivian Automotive by 40.3% in the 3rd quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock valued at $51,000 after purchasing an additional 1,301 shares during the period. Finally, GAMMA Investing LLC increased its position in Rivian Automotive by 40.4% during the third quarter. GAMMA Investing LLC now owns 4,871 shares of the electric vehicle automaker’s stock worth $55,000 after acquiring an additional 1,401 shares during the period. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Stock Up 0.2 %

Shares of RIVN opened at $12.80 on Friday. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The business’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $12.74. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of -2.29 and a beta of 2.04.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have recently issued reports on RIVN. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Guggenheim lowered their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Benchmark initiated coverage on shares of Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Needham & Company LLC lowered their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.13.

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.