Lido Advisors LLC Trims Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Lido Advisors LLC cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,940 shares of the electric vehicle automaker's stock after selling 21,930 shares during the period. Lido Advisors LLC's holdings in Rivian Automotive were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Tandem Financial LLC acquired a new stake in Rivian Automotive during the 4th quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the 3rd quarter worth approximately $28,000. Bear Mountain Capital Inc. raised its position in 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 worth $36,000 after buying an additional 1,932 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Rivian Automotive in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer now owns 853,011 shares in the company, valued at approximately $9,596,373.75. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents 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 worth $2,154,905 in the last quarter. 2.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on RIVN. Sanford C. Bernstein began coverage on Rivian Automotive in a research report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target on the stock. TD Cowen began coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 target price for the company. 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. Mizuho upped their price objective on shares of Rivian Automotive from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Barclays increased their price target on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rivian Automotive has an average rating of "Hold" and an average target price of $13.99.

Rivian Automotive Trading Down 6.0 %

Rivian Automotive stock traded down $0.80 during trading on Wednesday, hitting $12.70. The company had a trading volume of 56,921,438 shares, compared to its average volume of 36,487,588. Rivian Automotive, Inc. has a 1-year low of $9.25 and a 1-year high of $18.86. The company's 50 day simple moving average is $11.88 and its 200-day simple moving average is $12.28. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of -2.69 and a beta of 1.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

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

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.