Mark Sheptoff Financial Planning LLC Sells 1,200 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mark Sheptoff Financial Planning LLC trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,175 shares of the electric vehicle automaker’s stock after selling 1,200 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Rivian Automotive were worth $96,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RIVN. Quent Capital LLC boosted its holdings in shares of Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 2,380 shares during the last quarter. Principal Securities Inc. acquired a new stake in Rivian Automotive in the fourth quarter valued at approximately $33,000. Benjamin Edwards Inc. bought a new stake in Rivian Automotive during the 1st quarter worth $33,000. Finally, Fairman Group LLC acquired a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $36,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 200,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $16,374,438. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $16,374,438. The disclosure for this sale can be found here. Insiders have sold 500,830 shares of company stock worth $7,872,145 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $12.90 on Thursday. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The company has a market cap of $13.01 billion, a PE ratio of -2.24 and a beta of 2.06. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.87. The business’s fifty day simple moving average is $14.68 and its 200-day simple moving average is $12.32.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. Analysts expect that Rivian Automotive, Inc. will post -4.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIVN. The Goldman Sachs Group boosted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Barclays boosted their price objective on Rivian Automotive from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Guggenheim began coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price for the company. Morgan Stanley boosted their price objective on Rivian Automotive from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.09.

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.