Baillie Gifford & Co. Sells 754,133 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Baillie Gifford & Co. decreased its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 49,603,446 shares of the electric vehicle automaker's stock after selling 754,133 shares during the quarter. Baillie Gifford & Co. owned 4.86% of Rivian Automotive worth $659,726,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RIVN. Tandem Financial LLC bought a new position in shares of Rivian Automotive during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. increased its stake in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after acquiring an additional 1,002 shares during the period. American Capital Advisory LLC increased its stake in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Down 2.3 %

Shares of RIVN stock traded down $0.32 during trading hours on Thursday, hitting $13.61. 51,608,358 shares of the company were exchanged, compared to its average volume of 33,480,340. The business has a 50 day moving average of $13.59 and a two-hundred day moving average of $12.54. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.85. The company has a market capitalization of $13.89 billion, a PE ratio of -2.43 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. Analysts anticipate that Rivian Automotive, Inc. will post -4.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein assumed coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price on the stock. Mizuho lowered their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus reduced their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Finally, Needham & Company LLC reduced their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has a consensus rating of "Hold" and an average target price of $15.13.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the sale, the chief financial officer now owns 370,401 shares in the company, valued at $4,518,892.20. This trade represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares of the company's stock, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,788 shares of company stock worth $5,024,431. 2.51% of the stock is owned by insiders.

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.