Signaturefd LLC Sells 1,554 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Signaturefd LLC lowered its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,308 shares of the electric vehicle automaker’s stock after selling 1,554 shares during the quarter. Signaturefd LLC’s holdings in Rivian Automotive were worth $299,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rivian Automotive by 35.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after purchasing an additional 25,550,489 shares during the period. Baillie Gifford & Co. lifted its holdings in Rivian Automotive by 714.3% in the 1st quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rivian Automotive by 1,521.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after buying an additional 5,937,605 shares during the period. Norges Bank bought a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $129,427,000. Finally, Vanguard Group Inc. increased its stake in shares of Rivian Automotive by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock valued at $1,602,629,000 after buying an additional 4,467,881 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $14.13 on Monday. The firm has a market cap of $14.06 billion, a P/E ratio of -2.45 and a beta of 2.09. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.87. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $14.92 and a 200 day moving average of $12.29.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, research analysts expect that Rivian Automotive, Inc. will post -4.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RIVN shares. Wells Fargo & Company cut their price target on shares of Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Rivian Automotive from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, June 26th. Needham & Company LLC lowered their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial upped their target price on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Morgan Stanley raised their target price on Rivian Automotive from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.14.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 200,000 shares of Rivian Automotive stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $16,374,438. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Robert J. Scaringe sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $18.00, for a total value of $3,600,000.00. Following the sale, the chief executive officer now owns 909,691 shares in the company, valued at $16,374,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,452,349.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 488,926 shares of company stock worth $7,552,869. Company insiders own 2.30% of the company’s stock.

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.