Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by FORA Capital LLC

FORA Capital LLC cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,387 shares of the electric vehicle automaker's stock after selling 267,385 shares during the period. FORA Capital LLC's holdings in Rivian Automotive were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimension Capital Management LLC lifted its position in Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock valued at $208,000 after acquiring an additional 819 shares during the last quarter. Tradition Wealth Management LLC increased its stake in shares of Rivian Automotive by 7.2% in the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after acquiring an additional 849 shares during the period. RFG Holdings Inc. increased its stake in shares of Rivian Automotive by 5.2% in the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock worth $296,000 after acquiring an additional 1,096 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Rivian Automotive by 4.6% in the fourth 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 period. Finally, Freestone Capital Holdings LLC grew its position in Rivian Automotive by 4.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock valued at $390,000 after buying an additional 1,164 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at $10,082,590.02. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RIVN has been the topic of several analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $15.00 price target on shares of Rivian Automotive in a research report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Wedbush dropped their price target on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday. Cowen initiated coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They set a "hold" rating on the stock. Finally, Robert W. Baird dropped their price target on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $13.99.

Rivian Automotive Trading Up 4.2%

Shares of RIVN stock traded up $0.58 during trading hours on Friday, hitting $14.26. The company had a trading volume of 50,513,729 shares, compared to its average volume of 36,262,643. The company's fifty day moving average is $11.98 and its 200 day moving average is $12.36. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The stock has a market capitalization of $16.12 billion, a PE ratio of -3.02 and a beta of 1.86.

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

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.