Centaurus Financial Inc. Lowers Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Centaurus Financial Inc. cut its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 30.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,939 shares of the electric vehicle automaker’s stock after selling 3,904 shares during the quarter. Centaurus Financial Inc.’s holdings in Rivian Automotive were worth $100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Rivian Automotive by 1,870.7% in the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC increased its stake in shares of Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after purchasing an additional 124,950 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Rivian Automotive by 543.8% during the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after purchasing an additional 120,544 shares in the last quarter. Renaissance Capital LLC increased its stake in shares of Rivian Automotive by 20.0% during the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after purchasing an additional 148,197 shares in the last quarter. Finally, Private Advisory Group LLC bought a new position in shares of Rivian Automotive during the third quarter valued at approximately $2,109,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIVN has been the subject of a number of analyst reports. Mizuho decreased their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wolfe Research initiated coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Morgan Stanley downgraded shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $13.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.73.

Rivian Automotive Trading Up 5.8 %

NASDAQ:RIVN opened at $12.22 on Friday. 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 firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of -2.18 and a beta of 2.04. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61. The business has a fifty day moving average price of $10.67 and a 200-day moving average price of $12.45.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,334 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 253,210 shares of company stock worth $3,079,695 in the last three months. Corporate insiders own 2.51% of the company’s stock.

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.