CV Advisors LLC Sells 3,925 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

CV Advisors LLC decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,956 shares of the electric vehicle automaker’s stock after selling 3,925 shares during the quarter. Rivian Automotive comprises approximately 0.1% of CV Advisors LLC’s investment portfolio, making the stock its 26th largest position. CV Advisors LLC’s holdings in Rivian Automotive were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RIVN. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $28,000. 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, Bear Mountain Capital Inc. grew its position in shares of Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after buying an additional 1,932 shares during the period. Institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $13.88, for a total value of $991,434.52. Following the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,983,450.68. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 203,928 shares of company stock valued at $3,013,134 over the last three months. 2.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RIVN. Truist Financial raised their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. TD Cowen began coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They issued a “hold” rating and a $12.70 price target for the company. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target for the company. Finally, Mizuho lifted their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.73.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $10.75 on Friday. The company has a market cap of $12.16 billion, a PE ratio of -2.28 and a beta of 2.03. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.86. 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 firm’s 50-day simple moving average is $12.74 and its two-hundred day simple moving average is $12.26.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. Research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.