Dimensional Fund Advisors LP Lowers Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Dimensional Fund Advisors LP lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,017,249 shares of the electric vehicle automaker's stock after selling 146,038 shares during the quarter. Dimensional Fund Advisors LP owned about 0.30% of Rivian Automotive worth $40,145,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. RFG Holdings Inc. raised its position in Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock worth $296,000 after purchasing an additional 1,096 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock worth $354,000 after acquiring an additional 1,160 shares during the last quarter. Freestone Capital Holdings LLC boosted its holdings in Rivian Automotive by 4.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock valued at $390,000 after acquiring an additional 1,164 shares during the period. Advisory Services Network LLC grew its position in Rivian Automotive by 8.3% in the 4th quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker's stock valued at $228,000 after acquiring an additional 1,314 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Rivian Automotive by 8.6% in the third quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock worth $204,000 after purchasing an additional 1,446 shares during the period. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded down $0.28 during midday trading on Monday, reaching $13.55. The company had a trading volume of 25,406,593 shares, compared to its average volume of 36,385,167. Rivian Automotive, Inc. has a 1 year low of $9.25 and a 1 year high of $18.86. The business's 50-day simple moving average is $11.78 and its 200 day simple moving average is $12.25. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.32 billion, a P/E ratio of -2.87 and a beta of 1.89.

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

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated 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 transaction, the chief executive officer now owns 853,011 shares in the company, valued at approximately $9,775,506.06. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % 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 quarter. 2.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RIVN shares. Wells Fargo & Company boosted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Cowen began coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They issued a "hold" rating on the stock. Truist Financial lifted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Piper Sandler cut Rivian Automotive from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $19.00 to $13.00 in a research note on Thursday, March 20th. Finally, Robert W. Baird decreased their target price on Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.08.

Rivian Automotive 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.