Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Holdings Trimmed by Stifel Financial Corp

Stifel Financial Corp decreased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 457,024 shares of the electric vehicle automaker’s stock after selling 40,724 shares during the quarter. Stifel Financial Corp’s holdings in Rivian Automotive were worth $5,128,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. increased its stake in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares during the period. International Assets Investment Management LLC acquired a new stake in Rivian Automotive in the second quarter worth approximately $37,000. First Horizon Advisors Inc. raised its stake in shares of 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 worth $38,000 after buying an additional 670 shares in the last quarter. American Capital Advisory LLC lifted its holdings in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $13.00 in a report on Friday, November 8th. Barclays dropped their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Robert W. Baird decreased their target price on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Stifel Nicolaus reduced their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.83.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,974 shares of company stock worth $2,038,483 over the last 90 days. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Trading Up 1.2 %

Rivian Automotive stock opened at $14.37 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. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The company’s fifty day simple moving average is $11.08 and its 200-day simple moving average is $12.66. The stock has a market cap of $14.67 billion, a P/E ratio of -2.57 and a beta of 2.12.

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.