Cerity Partners LLC Has $695,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Cerity Partners LLC boosted its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 38.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,927 shares of the electric vehicle automaker’s stock after buying an additional 17,039 shares during the period. Cerity Partners LLC’s holdings in Rivian Automotive were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its holdings in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the period. International Assets Investment Management LLC purchased a new position in Rivian Automotive during the second quarter valued at approximately $37,000. First Horizon Advisors Inc. increased its stake in Rivian Automotive by 30.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after buying an additional 670 shares during the period. American Capital Advisory LLC lifted its position in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after buying an additional 2,111 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Rivian Automotive by 39.0% during the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock valued at $43,000 after buying an additional 907 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIVN has been the topic of a number of research reports. Barclays dropped their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Truist Financial reduced their price target on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Canaccord Genuity Group dropped their price objective on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.73.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now owns 886,526 shares in the company, valued at approximately $10,319,162.64. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,307 shares of company stock worth $3,178,479. Insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Performance

RIVN opened at $13.00 on Friday. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average price is $10.74 and its two-hundred day moving average price is $12.51. The firm has a market capitalization of $13.27 billion, a P/E ratio of -2.32 and a beta of 2.12. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61.

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.