Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,533 shares of the electric vehicle automaker's stock after selling 22,972 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Rivian Automotive were worth $1,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIVN. Capital International Investors acquired a new position in shares of Rivian Automotive in the fourth quarter worth about $144,030,000. Northern Trust Corp grew its holdings in Rivian Automotive by 68.5% during the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock worth $96,275,000 after acquiring an additional 2,941,928 shares in the last quarter. Twinbeech Capital LP bought a new stake in shares of Rivian Automotive in the 4th quarter worth about $29,944,000. Soma Equity Partners LP increased its position in shares of Rivian Automotive by 19.9% in the 4th quarter. Soma Equity Partners LP now owns 8,486,109 shares of the electric vehicle automaker's stock worth $112,865,000 after purchasing an additional 1,407,772 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $17,087,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Stock Up 3.7%

RIVN opened at $12.07 on Friday. The stock's 50 day moving average price is $13.42 and its 200 day moving average price is $12.97. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.44 and a quick ratio of 2.80. The stock has a market cap of $13.65 billion, a P/E ratio of -3.74 and a beta of 1.80. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $17.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.46) EPS. As a group, research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on RIVN shares. The Goldman Sachs Group lowered their price objective on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Mizuho boosted their price target on Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Cantor Fitzgerald restated a "neutral" rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Rivian Automotive from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Robert W. Baird dropped their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $13.82.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 107,144 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the transaction, the chief executive officer directly owned 1,483,111 shares in the company, valued at $22,617,442.75. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the transaction, the chief financial officer owned 824,875 shares in the company, valued at $12,694,826.25. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,694 shares of company stock valued at $3,144,612 in the last quarter. 2.16% of the stock is currently owned by insiders.

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.

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