Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC lessened its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,175 shares of the electric vehicle automaker’s stock after selling 1,200 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Rivian Automotive were worth $96,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RIVN. Price T Rowe Associates Inc. MD lifted its stake in shares of Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after purchasing an additional 25,550,489 shares during the last quarter. Vanguard Group Inc. lifted its position in Rivian Automotive by 1.8% in the first quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock valued at $761,459,000 after buying an additional 1,226,357 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Rivian Automotive by 30.5% during the second quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker’s stock worth $443,072,000 after buying an additional 7,714,788 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rivian Automotive by 1,521.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after acquiring an additional 5,937,605 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $129,427,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.97, for a total value of $1,069,292.13. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $13,618,074.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,830 shares of company stock worth $7,872,145. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $12.90 on Thursday. The company has a 50-day moving average price of $14.68 and a two-hundred day moving average price of $12.32. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.87. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of -2.24 and a beta of 2.06. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Analysts forecast that Rivian Automotive, Inc. will post -4.92 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on RIVN. Truist Financial upped their price target on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Wolfe Research began coverage on Rivian Automotive in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Mizuho boosted their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Canaccord Genuity Group raised their price objective on shares of Rivian Automotive from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $18.09.

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.