Virtu Financial LLC Has $306,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Virtu Financial LLC cut its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 93.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,003 shares of the electric vehicle automaker’s stock after selling 349,930 shares during the quarter. Virtu Financial LLC’s holdings in Rivian Automotive were worth $306,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in Rivian Automotive during the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the third quarter worth about $28,000. Hantz Financial Services Inc. boosted its stake in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Bear Mountain Capital Inc. increased its holdings in shares of 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 valued at $36,000 after acquiring an additional 1,932 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Stock Up 7.6 %

NASDAQ RIVN opened at $13.02 on Friday. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $12.30 and its two-hundred day moving average is $12.15. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of -2.76 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share 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 analysts’ expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $13.00 to $15.00 in a report on Friday, February 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Piper Sandler downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $13.00 in a report on Thursday, March 20th. Wells Fargo & Company upped their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Finally, UBS Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.38.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction that occurred 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 transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock valued at $2,588,475. 2.51% of the stock is owned by insiders.

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.