Rivian Automotive, Inc. $RIVN Shares Sold by Oarsman Capital Inc.

Oarsman Capital Inc. lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,669 shares of the electric vehicle automaker’s stock after selling 1,044 shares during the period. Oarsman Capital Inc.’s holdings in Rivian Automotive were worth $147,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RIVN. Banque Transatlantique SA raised its position in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 2,243 shares during the last quarter. Fairman Group LLC acquired a new position in shares of Rivian Automotive during the 2nd quarter worth about $31,000. WPG Advisers LLC acquired a new position in shares of Rivian Automotive during the 1st quarter worth about $34,000. Olde Wealth Management LLC acquired a new position in shares of Rivian Automotive during the 1st quarter worth about $37,000. Finally, Golden State Wealth Management LLC raised its position in shares of Rivian Automotive by 107.9% during the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker’s stock worth $41,000 after purchasing an additional 1,714 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the sale, the chief financial officer owned 789,445 shares of the company’s stock, valued at $9,694,384.60. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the completion of the sale, the chief executive officer directly owned 1,316,205 shares of the company’s stock, valued at approximately $18,426,870. This trade represents a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 42,147 shares of company stock valued at $577,593. Corporate insiders own 2.16% of the company’s stock.

Rivian Automotive Stock Up 1.6%

Shares of NASDAQ RIVN opened at $13.71 on Thursday. The company has a 50-day moving average of $13.78 and a 200 day moving average of $13.57. Rivian Automotive, Inc. has a 12-month low of $9.50 and a 12-month high of $17.15. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The stock has a market cap of $16.64 billion, a PE ratio of -4.24 and a beta of 1.82.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.32). Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company earned ($1.46) EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RIVN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Mizuho restated an “underperform” rating and set a $10.00 price target (down previously from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Rivian Automotive from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, UBS Group upped their price objective on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $13.76.

About Rivian Automotive

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.