Rivian Automotive, Inc. (NASDAQ:RIVN) Position Lessened by Bokf Na

Bokf Na lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,030 shares of the electric vehicle automaker’s stock after selling 907 shares during the quarter. Bokf Na’s holdings in Rivian Automotive were worth $349,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $33,000. Fairman Group LLC acquired a new position in shares of Rivian Automotive during the 4th quarter worth $36,000. Quent Capital LLC raised its holdings in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 831 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at $51,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in Rivian Automotive by 552.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock worth $61,000 after purchasing an additional 2,210 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of the stock in a transaction on Friday, July 12th. The stock was 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 approximately $16,374,438. The disclosure for this sale can be found here. Insiders sold 500,830 shares of company stock worth $7,872,145 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive Stock Down 2.2 %

RIVN opened at $13.20 on Tuesday. The company has a market capitalization of $13.31 billion, a P/E ratio of -2.29 and a beta of 2.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. The firm’s fifty day moving average price is $14.85 and its two-hundred day moving average price is $12.29. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.87.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, analysts anticipate that Rivian Automotive, Inc. will post -4.92 EPS for the current year.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 target price on shares of Rivian Automotive in a report on Friday, August 16th. Guggenheim began coverage on Rivian Automotive in a report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price target on the stock. Wells Fargo & Company dropped 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 research report on Wednesday, August 7th. Finally, DA Davidson upped their price objective on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.09.

About Rivian Automotive

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.