Stifel Financial Corp Has $5.23 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Stifel Financial Corp trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,016 shares of the electric vehicle automaker's stock after selling 64,008 shares during the period. Stifel Financial Corp's holdings in Rivian Automotive were worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Rivian Automotive by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,227,560 shares of the electric vehicle automaker's stock valued at $175,639,000 after purchasing an additional 227,168 shares in the last quarter. Capital International Investors acquired a new position in Rivian Automotive in the fourth quarter worth approximately $144,030,000. Norges Bank bought a new position in Rivian Automotive during the fourth quarter valued at approximately $123,308,000. Charles Schwab Investment Management Inc. lifted its stake in Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock valued at $63,055,000 after acquiring an additional 133,781 shares during the last quarter. Finally, Groupama Asset Managment bought a new stake in Rivian Automotive in the fourth quarter worth approximately $26,600,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN traded up $0.07 during midday trading on Friday, reaching $13.83. 27,195,053 shares of the company traded hands, compared to its average volume of 36,429,193. The stock's 50-day simple moving average is $11.78 and its 200-day simple moving average is $12.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 12 month low of $9.25 and a 12 month high of $18.86. The firm has a market cap of $15.64 billion, a PE ratio of -2.93 and a beta of 1.89.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on RIVN shares. Robert W. Baird lowered their target price 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. TD Cowen started coverage on Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 price objective on the stock. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $19.00 to $13.00 in a report on Thursday, March 20th. Guggenheim lowered their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Benchmark restated a "buy" rating and issued a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. Three 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.08.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the sale, the chief executive officer now owns 853,011 shares in the company, valued at approximately $10,082,590.02. This trade represents a 7.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the chief financial officer now owns 335,076 shares in the company, valued at $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 worth $2,154,905 in the last three months. Insiders own 2.51% of the company's stock.

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.