Rivian Automotive, Inc. $RIVN Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 29.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,715 shares of the electric vehicle automaker’s stock after selling 32,766 shares during the quarter. Savant Capital LLC’s holdings in Rivian Automotive were worth $1,082,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RIVN. Assetmark Inc. raised its position in shares of Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,357 shares during the last quarter. Fairman Group LLC purchased a new position in shares of Rivian Automotive in the second quarter worth $31,000. Banque Transatlantique SA raised its holdings in shares of Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 2,243 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Rivian Automotive during the first quarter worth $34,000. Finally, PFS Partners LLC grew its holdings in shares of Rivian Automotive by 50.5% during the second quarter. PFS Partners LLC now owns 2,982 shares of the electric vehicle automaker’s stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Stock Down 6.4%

Shares of RIVN stock opened at $16.39 on Friday. The stock has a 50 day moving average of $14.16 and a 200 day moving average of $13.81. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87. The stock has a market cap of $19.89 billion, a P/E ratio of -5.27 and a beta of 1.81. Rivian Automotive, Inc. has a twelve month low of $9.55 and a twelve month high of $18.13.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 52,350 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total transaction of $869,010.00. Following the completion of the transaction, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at $20,690,323. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 7,247 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the transaction, the chief financial officer owned 789,445 shares of the company’s stock, valued at approximately $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 94,497 shares of company stock worth $1,446,603 in the last ninety days. Corporate insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $21.00 price objective on shares of Rivian Automotive in a research note on Friday, October 3rd. Stifel Nicolaus decreased their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 8th. Wedbush cut their price target on shares of Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, Mizuho reissued an “underperform” rating and set a $10.00 price target (down from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.81.

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.