MML Investors Services LLC Has $164,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

MML Investors Services LLC reduced its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 19.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,645 shares of the electric vehicle automaker’s stock after selling 3,514 shares during the quarter. MML Investors Services LLC’s holdings in Rivian Automotive were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its stake in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC grew its position in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rivian Automotive in the second quarter valued at about $37,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Rivian Automotive during the 3rd quarter worth approximately $44,000. 66.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,983,450.68. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,000 shares of company stock valued at $3,312,443. Company insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RIVN shares. Royal Bank of Canada cut their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Stifel Nicolaus lowered their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Wolfe Research assumed coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Needham & Company LLC decreased their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.74.

Rivian Automotive Price Performance

RIVN stock opened at $13.65 on Friday. The company’s 50-day moving average is $11.74 and its 200-day moving average is $12.83. The stock has a market capitalization of $13.93 billion, a PE ratio of -2.44 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.30.

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.