Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors decreased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 72.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,302 shares of the electric vehicle automaker's stock after selling 30,172 shares during the period. Captrust Financial Advisors' holdings in Rivian Automotive were worth $150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RIVN. Tandem Financial LLC acquired a new position in shares of Rivian Automotive during the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $27,000. Bear Mountain Capital Inc. raised its stake in Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. Quarry LP purchased a new position in Rivian Automotive in the 4th quarter valued at $38,000. Finally, AllSquare Wealth Management LLC boosted its stake in Rivian Automotive by 8,794.1% during the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock worth $40,000 after purchasing an additional 2,990 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of recent research reports. Sanford C. Bernstein assumed coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price for the company. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Rivian Automotive in a report on Tuesday, March 18th. Guggenheim restated a "buy" rating and issued a $16.00 price target on shares of Rivian Automotive in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lifted their price objective on Rivian Automotive from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and an average target price of $14.33.

Insider Activity

In related news, CFO Claire Mcdonough sold 9,937 shares of Rivian Automotive stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the completion of the transaction, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the sale, the chief executive officer now owns 853,011 shares in the company, valued at approximately $10,082,590.02. This trade represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 384,265 shares of company stock valued at $5,201,750. 2.16% of the stock is currently owned by company insiders.

Rivian Automotive Trading Down 1.8%

NASDAQ:RIVN traded down $0.28 during trading hours on Friday, reaching $15.63. 21,760,518 shares of the stock were exchanged, compared to its average volume of 36,281,423. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $18.86. The business has a 50-day moving average of $12.92 and a two-hundred day moving average of $12.70. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of -3.31 and a beta of 1.86. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.23. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $981.52 million. During the same quarter in the prior year, the company earned ($1.48) EPS. Rivian Automotive's revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.