Corient Private Wealth LLC Sells 10,976 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Corient Private Wealth LLC trimmed its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,098 shares of the electric vehicle automaker’s stock after selling 10,976 shares during the period. Corient Private Wealth LLC’s holdings in Rivian Automotive were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RIVN. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter worth $25,000. Bank of Jackson Hole Trust purchased a new stake in Rivian Automotive in the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive in the third quarter worth about $28,000. Hantz Financial Services Inc. grew its stake 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 acquiring an additional 2,900 shares during the last quarter. Finally, Bear Mountain Capital Inc. increased its holdings in shares of Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after acquiring an additional 1,932 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $10,082,590.02. The trade was a 7.73 % 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, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,588,475 in the last three months. 2.51% of the stock is currently owned by company insiders.

Rivian Automotive Trading Down 4.7 %

Shares of Rivian Automotive stock opened at $12.41 on Friday. The firm has a 50-day simple moving average of $12.26 and a two-hundred day simple moving average of $12.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.86. The company has a market cap of $14.03 billion, a P/E ratio of -2.63 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, equities analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RIVN has been the topic of several research analyst reports. Robert W. Baird reissued a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Guggenheim dropped their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Mizuho cut their target price on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Bank of America cut Rivian Automotive from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Finally, UBS Group increased their price objective on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.38.

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.