Mizuho Markets Americas LLC Sells 150,350 Shares of Rivian Automotive, Inc. $RIVN

Mizuho Markets Americas LLC lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 20.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 588,184 shares of the electric vehicle automaker’s stock after selling 150,350 shares during the period. Mizuho Markets Americas LLC’s holdings in Rivian Automotive were worth $11,593,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. raised its position in shares of Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,395 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of Rivian Automotive by 96.3% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 852 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Rivian Automotive in the 3rd quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Rivian Automotive in the 3rd quarter worth approximately $39,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $14.22 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $17.65 billion, a P/E ratio of -4.87 and a beta of 1.64. The stock’s 50 day moving average is $15.32 and its 200 day moving average is $16.28. Rivian Automotive, Inc. has a twelve month low of $11.57 and a twelve month high of $22.69.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 21,446 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $16.17, for a total value of $346,781.82. Following the sale, the chief executive officer owned 1,001,138 shares in the company, valued at $16,188,401.46. This represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 5,544 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $13.43, for a total value of $74,455.92. Following the completion of the sale, the chief financial officer owned 902,630 shares in the company, valued at $12,122,320.90. The trade was a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 92,399 shares of company stock worth $1,443,578 in the last 90 days. 2.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America assumed coverage on Rivian Automotive in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $14.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $22.00 target price on shares of Rivian Automotive in a research report on Monday, April 6th. Weiss Ratings lowered Rivian Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Tigress Financial reissued a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research report on Friday, April 10th. Finally, BNP Paribas Exane restated an “outperform” rating and issued a $22.00 price target (down from $23.00) on shares of Rivian Automotive in a research note on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and an average price target of $18.57.

Rivian Automotive Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.