Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Sculati Wealth Management LLC

Sculati Wealth Management LLC trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,043 shares of the electric vehicle automaker’s stock after selling 892 shares during the quarter. Sculati Wealth Management LLC’s holdings in Rivian Automotive were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Certuity LLC boosted its position in shares of Rivian Automotive by 8.1% during the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after buying an additional 815 shares during the period. John G Ullman & Associates Inc. lifted its stake in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in 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 valued at $29,000 after acquiring an additional 1,002 shares during the period. Intech Investment Management LLC grew its position in Rivian Automotive by 1.4% in the 2nd quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock valued at $1,033,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its position in Rivian Automotive by 11.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock valued at $132,000 after acquiring an additional 1,250 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Trading Down 2.1 %

NASDAQ:RIVN opened at $13.30 on Wednesday. The company has a market capitalization of $13.57 billion, a PE ratio of -2.38 and a beta of 2.12. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $21.94. The stock’s 50 day moving average price is $11.94 and its 200 day moving average price is $12.89. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,000 shares of company stock valued at $3,312,443. 2.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wolfe Research began coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays decreased their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. The Goldman Sachs Group upped their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada decreased their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Mizuho cut their price target on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.74.

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.