Mariner LLC Sells 6,469 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mariner LLC reduced its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,978 shares of the electric vehicle automaker’s stock after selling 6,469 shares during the quarter. Mariner LLC’s holdings in Rivian Automotive were worth $2,687,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RIVN. Tandem Financial LLC bought a new stake in Rivian Automotive in the fourth quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive during the 3rd quarter worth about $28,000. Bear Mountain Capital Inc. grew its holdings in 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 valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. Finally, AllSquare Wealth Management LLC raised its position in Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock worth $40,000 after purchasing an additional 2,990 shares during the period. 66.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RIVN. Bank of America lowered Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $13.00 to $10.00 in a research report on Monday, February 24th. Cowen assumed coverage on Rivian Automotive in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Barclays lifted their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Rivian Automotive in a report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.17.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $9,596,373.75. This trade represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,714 shares of company stock valued at $1,745,634. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Price Performance

Shares of RIVN stock opened at $11.36 on Wednesday. The company has a market cap of $12.84 billion, a P/E ratio of -2.41 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock’s 50-day moving average is $11.83 and its 200 day moving average is $12.09. Rivian Automotive, Inc. has a 1-year low of $8.46 and a 1-year high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The firm 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 fiscal year.

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.