Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 457,024 shares of the electric vehicle automaker’s stock after selling 40,724 shares during the quarter. Stifel Financial Corp’s holdings in Rivian Automotive were worth $5,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIVN. GHP Investment Advisors Inc. boosted its holdings in shares of Rivian Automotive by 63.2% in the third 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in Rivian Automotive in the 2nd quarter valued at approximately $37,000. First Horizon Advisors Inc. boosted its holdings in Rivian Automotive by 30.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after purchasing an additional 670 shares in the last quarter. American Capital Advisory LLC increased its position in Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Rivian Automotive by 2,636.4% during the 3rd 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. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the business’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 value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,974 shares of company stock worth $2,038,483 in the last 90 days. 2.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RIVN shares. Barclays cut 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 report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $14.00 price target on shares of Rivian Automotive in a research report on Tuesday, September 10th. The Goldman Sachs Group raised their price objective on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Robert W. Baird decreased their target price on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus target price of $15.83.

Rivian Automotive Trading Up 1.2 %

RIVN opened at $14.37 on Friday. The firm’s 50 day moving average is $11.08 and its 200-day moving average is $12.66. The firm has a market capitalization of $14.67 billion, a P/E ratio of -2.57 and a beta of 2.12. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.61. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

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.