Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 141,494 shares of the electric vehicle automaker’s stock after selling 4,021 shares during the quarter. IFM Investors Pty Ltd’s holdings in Rivian Automotive were worth $1,588,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RIVN. Vicus Capital increased its position in shares of Rivian Automotive by 11.6% during the 1st quarter. Vicus Capital now owns 13,633 shares of the electric vehicle automaker’s stock valued at $149,000 after purchasing an additional 1,422 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Rivian Automotive during the 1st quarter valued at $265,000. Albion Financial Group UT increased its position in shares of Rivian Automotive by 346.4% during the 1st quarter. Albion Financial Group UT now owns 104,181 shares of the electric vehicle automaker’s stock valued at $1,141,000 after purchasing an additional 80,841 shares during the period. Norden Group LLC acquired a new position in shares of Rivian Automotive in the 1st quarter worth $132,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Rivian Automotive by 37.4% in the 1st quarter. Principal Financial Group Inc. now owns 57,371 shares of the electric vehicle automaker’s stock worth $628,000 after acquiring an additional 15,603 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rivian Automotive

In other 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 transaction of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at approximately $12,127,675.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares in the company, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’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 transaction, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at $12,127,675.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,876 shares of company stock worth $2,153,551. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $10.45 on Monday. The business’s 50-day moving average price is $12.04 and its two-hundred day moving average price is $12.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61. The company has a market capitalization of $10.40 billion, a P/E ratio of -1.81 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last issued 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 firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Analysts anticipate that Rivian Automotive, Inc. will post -4.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Rivian Automotive in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. decreased their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Canaccord Genuity Group decreased their target price on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Morgan Stanley cut Rivian Automotive from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Finally, Truist Financial decreased their target price on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.09.

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.