Asset Management One Co. Ltd. Sells 10,388 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Asset Management One Co. Ltd. lessened its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,757 shares of the electric vehicle automaker’s stock after selling 10,388 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Rivian Automotive were worth $5,762,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its holdings in shares of Rivian Automotive by 195.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 975 shares during the period. Ancora Advisors LLC bought a new position in shares of Rivian Automotive during the 3rd quarter worth about $27,000. MCF Advisors LLC increased its holdings in shares of Rivian Automotive by 396.8% during the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter valued at about $30,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 1,245 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Activity

In other news, CAO Jeff Baker sold 31,425 shares of the company’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 value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the stock in a transaction on Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock worth $717,274 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RIVN shares. UBS Group reiterated a “sell” rating and set a $8.00 target price (down from $24.00) on shares of Rivian Automotive in a research report on Friday, February 23rd. The Goldman Sachs Group decreased their target price on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Morgan Stanley decreased their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Wolfe Research restated a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Finally, Robert W. Baird reduced their price target on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and a consensus target price of $19.87.

Rivian Automotive Stock Down 3.4 %

Shares of NASDAQ:RIVN opened at $10.27 on Thursday. Rivian Automotive, Inc. has a 52 week low of $10.01 and a 52 week high of $28.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The company has a market capitalization of $10.04 billion, a PE ratio of -1.79 and a beta of 1.88. The company has a 50 day moving average price of $12.50 and a two-hundred day moving average price of $16.57.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. Analysts forecast that Rivian Automotive, Inc. will post -4.79 earnings per share for the current year.

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.