Tidal Investments LLC Has $2.94 Million Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Tidal Investments LLC lessened its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,650 shares of the electric vehicle automaker's stock after selling 48,302 shares during the quarter. Tidal Investments LLC's holdings in Rivian Automotive were worth $2,935,000 at the end of the most recent quarter.

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

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 17,185 shares of Rivian Automotive stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.39, for a total transaction of $264,477.15. Following the completion of the transaction, the chief financial officer now directly owns 824,875 shares of the company's stock, valued at approximately $12,694,826.25. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. This represents a 7.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,265 shares of company stock worth $5,201,750. 2.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Rivian Automotive from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. TD Cowen started coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They set a "hold" rating and a $12.70 price objective on the stock. Needham & Company LLC decreased their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target on the stock. Finally, Robert W. Baird reduced their price objective on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Three 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.33.

Rivian Automotive Stock Performance

RIVN traded down $0.28 on Friday, hitting $15.63. 21,760,518 shares of the stock traded hands, compared to its average volume of 36,281,422. The business has a fifty day moving average price of $12.92 and a two-hundred day moving average price of $12.70. 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 firm has a market capitalization of $17.67 billion, a PE ratio of -3.31 and a beta of 1.86. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $18.86.

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