Rhumbline Advisers Sells 20,438 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Rhumbline Advisers trimmed its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 895,245 shares of the electric vehicle automaker’s stock after selling 20,438 shares during the period. Rhumbline Advisers owned 0.09% of Rivian Automotive worth $11,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Asset Management One Co. Ltd. increased its position in Rivian Automotive by 13.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 294,468 shares of the electric vehicle automaker’s stock worth $4,019,000 after purchasing an additional 34,948 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Rivian Automotive by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 389,971 shares of the electric vehicle automaker’s stock worth $5,187,000 after buying an additional 17,878 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Rivian Automotive during the fourth quarter worth $1,317,000. Empowered Funds LLC lifted its stake in shares of Rivian Automotive by 168.4% in the 4th quarter. Empowered Funds LLC now owns 49,562 shares of the electric vehicle automaker’s stock valued at $659,000 after acquiring an additional 31,096 shares during the last quarter. Finally, Tandem Financial LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter valued at $25,000. 66.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Claire Mcdonough sold 18,501 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were 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 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 SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 283,454 shares of company stock valued at $4,086,923 in the last ninety days. Insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Mizuho lifted their target price on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, UBS Group boosted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given 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 price target of $15.09.

Rivian Automotive Trading Down 4.7 %

Rivian Automotive stock opened at $12.97 on Monday. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.85. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -2.75 and a beta of 2.04. The firm has a 50 day moving average of $13.56 and a 200 day moving average of $12.50. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.