Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) by 2.9% during the second quarter, HoldingsChannel.com reports. The fund owned 15,539 shares of the electric vehicle automaker’s stock after selling 456 shares during the period. Cibc World Market Inc.’s holdings in Rivian Automotive were worth $400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ieq Capital LLC purchased a new stake in shares of Rivian Automotive in the 2nd quarter valued at approximately $326,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Rivian Automotive in the 1st quarter valued at approximately $51,000. Raymond James & Associates increased its position in shares of Rivian Automotive by 42.2% in the 1st quarter. Raymond James & Associates now owns 179,015 shares of the electric vehicle automaker’s stock valued at $8,994,000 after purchasing an additional 53,132 shares during the last quarter. M Holdings Securities Inc. purchased a new stake in shares of Rivian Automotive in the 1st quarter valued at approximately $369,000. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Rivian Automotive in the 2nd quarter valued at approximately $27,000. 62.09% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 1.8 %

Shares of Rivian Automotive stock opened at 28.94 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.39 and a current ratio of 6.84. Rivian Automotive, Inc. has a one year low of 19.25 and a one year high of 126.75. The firm has a fifty day moving average of 33.33 and a two-hundred day moving average of 31.85.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RIVN. DA Davidson dropped their price objective on shares of Rivian Automotive from $27.00 to $23.00 and set an “underperform” rating on the stock in a research report on Thursday, November 10th. Morgan Stanley dropped their price objective on shares of Rivian Automotive from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, November 14th. The Goldman Sachs Group upped their target price on shares of Rivian Automotive to $41.00 in a report on Monday, August 15th. Truist Financial began coverage on shares of Rivian Automotive in a report on Wednesday, September 28th. They issued a “buy” rating and a $65.00 target price for the company. Finally, Royal Bank of Canada lowered their target price on shares of Rivian Automotive from $61.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of “Moderate Buy” and a consensus target price of 59.00.

Insiders Place Their Bets

In other Rivian Automotive news, CAO Jeff Baker sold 1,689 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total transaction of 58,067.82. Following the completion of the transaction, the chief accounting officer now owns 89,331 shares in the company, valued at approximately 3,071,199.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total transaction of 497,086.20. Following the completion of the transaction, the chief financial officer now owns 81,151 shares in the company, valued at approximately 2,833,792.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jeff Baker sold 1,689 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total transaction of 58,067.82. Following the completion of the transaction, the chief accounting officer now owns 89,331 shares of the company’s stock, valued at approximately 3,071,199.78. The disclosure for this sale can be found here. 2.34% of the stock is owned by insiders.

Rivian Automotive Profile

(Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

Featured Articles

Want to see what other hedge funds are holding RIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating).

Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.