Gilder Gagnon Howe & Co. LLC Sells 569,686 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Gilder Gagnon Howe & Co. LLC lowered its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,029,534 shares of the electric vehicle automaker's stock after selling 569,686 shares during the period. Gilder Gagnon Howe & Co. LLC owned 0.30% of Rivian Automotive worth $40,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIVN. Tandem Financial LLC bought a new position in Rivian Automotive in the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new position in Rivian Automotive during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive in the 3rd quarter worth $28,000. Bear Mountain Capital Inc. lifted its holdings 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 during the period. Finally, AllSquare Wealth Management LLC raised its holdings in shares of Rivian Automotive by 8,794.1% in 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 in the last quarter. Institutional investors own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RIVN shares. JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group dropped their target price 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. Benchmark restated a "buy" rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. UBS Group cut their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Guggenheim decreased their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.08.

Rivian Automotive Price Performance

RIVN traded down $0.17 during trading on Wednesday, hitting $13.13. The company's stock had a trading volume of 20,815,210 shares, compared to its average volume of 36,406,124. The firm's 50 day moving average price is $11.69 and its two-hundred day moving average price is $12.16. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of -2.78 and a beta of 1.89. Rivian Automotive, Inc. has a 12 month low of $8.84 and a 12 month high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Sell-side analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total transaction of $409,270.98. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,775,506.06. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction 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 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. Insiders have sold a total of 185,427 shares of company stock valued at $2,154,905 in the last 90 days. 2.51% of the stock is owned by company insiders.

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.