Fortitude Family Office LLC Sells 2,847 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Fortitude Family Office LLC reduced its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 47.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,174 shares of the electric vehicle automaker’s stock after selling 2,847 shares during the quarter. Fortitude Family Office LLC’s holdings in Rivian Automotive were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive during the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. grew its position in shares of 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 worth $29,000 after buying an additional 1,002 shares during the period. American Capital Advisory LLC grew its position in shares of Rivian Automotive by 267.6% during 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 during the period. Hantz Financial Services Inc. grew its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Rivian Automotive during the 3rd quarter worth about $44,000. 66.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive 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 sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,429 shares of company stock valued at $4,467,450 in the last quarter. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Trading Down 2.5 %

Shares of Rivian Automotive stock opened at $13.85 on Friday. The business has a fifty day simple moving average of $12.53 and a two-hundred day simple moving average of $13.05. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $19.12. The company has a market capitalization of $14.14 billion, a price-to-earnings ratio of -2.47 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several analyst reports. Canaccord Genuity Group decreased their target price on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Piper Sandler decreased their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Benchmark started coverage on Rivian Automotive in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Truist Financial reiterated a “hold” rating and issued a $12.00 price objective on shares of Rivian Automotive in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.48.

View Our Latest Stock Analysis on Rivian Automotive

Rivian Automotive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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