Cerity Partners LLC Has $337,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Cerity Partners LLC decreased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 59.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,325 shares of the electric vehicle automaker's stock after selling 36,602 shares during the quarter. Cerity Partners LLC's holdings in Rivian Automotive were worth $337,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RIVN. Charles Schwab Investment Management Inc. lifted its stake in Rivian Automotive by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock worth $63,055,000 after purchasing an additional 133,781 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Rivian Automotive during the 4th quarter worth approximately $1,363,000. Groupama Asset Managment acquired a new stake in Rivian Automotive in the 4th quarter valued at $26,600,000. SG Americas Securities LLC grew its position in Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock valued at $2,404,000 after acquiring an additional 54,053 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Rivian Automotive during the fourth quarter worth $10,448,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Up 4.4 %

RIVN stock traded up $0.53 during mid-day trading on Friday, hitting $12.62. 24,445,614 shares of the company were exchanged, compared to its average volume of 36,524,350. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 1-year low of $8.84 and a 1-year high of $18.86. The firm's 50 day simple moving average is $11.71 and its 200 day simple moving average is $12.13. The firm has a market cap of $14.27 billion, a P/E ratio of -2.67 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RIVN shares. JPMorgan Chase & Co. dropped their target price on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday. The Goldman Sachs Group decreased their price target on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Bank of America lowered Rivian Automotive from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Guggenheim 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, February 24th. Finally, Wells Fargo & Company upped their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.08.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $11.46, for a total transaction of $409,270.98. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,154,905 over the last three months. Company insiders own 2.51% of the company's stock.

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.