Atria Wealth Solutions Inc. Has $1.95 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Atria Wealth Solutions Inc. trimmed its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,042 shares of the electric vehicle automaker's stock after selling 146,305 shares during the period. Atria Wealth Solutions Inc.'s holdings in Rivian Automotive were worth $1,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in Rivian Automotive in the 4th quarter valued at $26,000. Ancora Advisors LLC acquired a new stake in Rivian Automotive in the 3rd quarter valued at $27,000. First Horizon Advisors Inc. increased its holdings in Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker's stock valued at $32,000 after purchasing an additional 1,245 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at $35,000. Finally, Parkside Financial Bank & Trust increased its holdings in Rivian Automotive by 86.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker's stock valued at $40,000 after purchasing an additional 784 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Claire Mcdonough sold 2,946 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is owned by company insiders.

Rivian Automotive Stock Performance

NASDAQ RIVN traded down $0.48 during trading hours on Tuesday, reaching $8.90. The company's stock had a trading volume of 22,940,555 shares, compared to its average volume of 41,956,324. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $10.69 and a 200 day simple moving average of $15.41. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $28.06. The stock has a market cap of $8.70 billion, a PE ratio of -1.59 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.28 billion. Equities research analysts predict that Rivian Automotive, Inc. will post -4.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RIVN shares. Robert W. Baird decreased their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an "outperform" rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group decreased their price objective on shares of Rivian Automotive from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, January 25th. Piper Sandler raised shares of Rivian Automotive from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $15.00 to $21.00 in a research report on Friday, March 15th. Wells Fargo & Company decreased their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price objective on shares of Rivian Automotive in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.61.

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.