Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,580 shares of the electric vehicle automaker’s stock after selling 1,633 shares during the period. Tredje AP fonden’s holdings in Rivian Automotive were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in shares of Rivian Automotive in the 4th quarter worth approximately $33,000. Fairman Group LLC acquired a new position in Rivian Automotive in the fourth quarter worth approximately $36,000. Quent Capital LLC increased its holdings in shares of Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 831 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter valued at $51,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Rivian Automotive by 552.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock valued at $61,000 after acquiring an additional 2,210 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The disclosure for this sale can be found here. Insiders have sold a total of 500,830 shares of company stock worth $7,872,145 over the last 90 days. Insiders own 2.30% of the company’s stock.

Rivian Automotive Stock Down 11.0 %

RIVN stock opened at $11.71 on Friday. The firm has a market cap of $11.66 billion, a PE ratio of -2.03 and a beta of 2.06. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.87. The company has a fifty day simple moving average of $14.48 and a 200 day simple moving average of $12.33. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $21.00 target price on shares of Rivian Automotive in a research report on Wednesday, June 26th. Guggenheim assumed coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They set a “buy” rating and a $18.00 price objective for the company. DA Davidson lifted their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of Rivian Automotive in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 26th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.09.

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.