Nisa Investment Advisors LLC Has $1.95 Million Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Nisa Investment Advisors LLC trimmed its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,750 shares of the electric vehicle automaker’s stock after selling 11,950 shares during the period. Nisa Investment Advisors LLC’s holdings in Rivian Automotive were worth $1,949,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RIVN. Norden Group LLC bought a new position in Rivian Automotive in the first quarter valued at approximately $132,000. Principal Financial Group Inc. increased its stake in shares of Rivian Automotive by 37.4% in the 1st quarter. Principal Financial Group Inc. now owns 57,371 shares of the electric vehicle automaker’s stock valued at $628,000 after purchasing an additional 15,603 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Rivian Automotive by 3.1% during the 1st quarter. Private Advisor Group LLC now owns 48,243 shares of the electric vehicle automaker’s stock worth $528,000 after buying an additional 1,432 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Rivian Automotive by 19.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 171,243 shares of the electric vehicle automaker’s stock worth $1,875,000 after buying an additional 27,784 shares in the last quarter. Finally, Choreo LLC lifted its position in shares of Rivian Automotive by 27.1% during the 1st quarter. Choreo LLC now owns 12,780 shares of the electric vehicle automaker’s stock worth $140,000 after buying an additional 2,724 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

RIVN has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a research report on Wednesday, August 7th. Mizuho lifted their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Truist Financial dropped their price objective on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.09.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at $10,319,162.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,876 shares of company stock worth $2,153,551. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Performance

Shares of RIVN opened at $10.18 on Friday. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $11.75 and its two-hundred day simple moving average is $12.26. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The stock has a market capitalization of $10.26 billion, a P/E ratio of -1.71 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, analysts predict that Rivian Automotive, Inc. will post -4.84 EPS for the current year.

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.