Mn Services Vermogensbeheer B.V. Sells 18,700 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mn Services Vermogensbeheer B.V. lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 236,300 shares of the electric vehicle automaker's stock after selling 18,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Rivian Automotive were worth $2,942,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PFS Partners LLC raised its position in shares of Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 1,882 shares during the period. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive during the 4th quarter valued at $27,000. Orion Capital Management LLC acquired a new position in Rivian Automotive during the fourth quarter worth $34,000. Bear Mountain Capital Inc. lifted its stake in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after buying an additional 1,932 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Rivian Automotive in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Stock Performance

Rivian Automotive stock traded down $0.20 during trading on Friday, hitting $13.57. The stock had a trading volume of 28,129,094 shares, compared to its average volume of 36,146,517. The stock's 50 day moving average is $13.89 and its two-hundred day moving average is $13.16. Rivian Automotive, Inc. has a 1 year low of $9.50 and a 1 year high of $18.86. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of -3.65 and a beta of 1.86. The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.23. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.48) EPS. As a group, analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on RIVN shares. Cantor Fitzgerald reissued a "neutral" rating and set a $15.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 7th. Wall Street Zen lowered Rivian Automotive from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Jefferies Financial Group reissued a "hold" rating and issued a $16.00 price objective on shares of Rivian Automotive in a research note on Wednesday, May 14th. The Goldman Sachs Group dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America cut Rivian Automotive from a "neutral" rating to an "underperform" rating and cut their target price for the company from $13.00 to $10.00 in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has a consensus rating of "Hold" and a consensus price target of $14.33.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 9,937 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total transaction of $149,055.00. Following the sale, the chief financial officer now owns 851,637 shares in the company, valued at $12,774,555. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert J. Scaringe sold 71,428 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.36, for a total value of $1,097,134.08. Following the completion of the transaction, the chief executive officer now directly owns 1,483,111 shares of the company's stock, valued at $22,780,584.96. The trade was a 4.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 384,265 shares of company stock worth $5,201,750. Company insiders own 2.16% 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.