Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 334,880 shares of the electric vehicle automaker’s stock after selling 4,320 shares during the quarter. Primecap Management Co. CA’s holdings in Rivian Automotive were worth $7,856,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RIVN. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive during the 4th quarter valued at about $26,000. Ancora Advisors LLC acquired a new position in shares of Rivian Automotive during the 3rd quarter worth approximately $27,000. Principal Securities Inc. purchased a new stake in Rivian Automotive in the 4th quarter valued at approximately $33,000. Arlington Trust Co LLC acquired a new stake in Rivian Automotive during the 4th quarter valued at $35,000. Finally, Parkside Financial Bank & Trust increased its position in Rivian Automotive by 86.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock worth $40,000 after buying an additional 784 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Shares of RIVN traded up $0.49 during mid-day trading on Friday, hitting $10.44. The company’s stock had a trading volume of 25,691,347 shares, compared to its average volume of 42,087,084. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The firm has a 50-day moving average price of $10.06 and a 200 day moving average price of $14.49. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Barclays reduced their price target on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Bank of America dropped their target price on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Finally, Evercore ISI decreased their target price on shares of Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Check Out Our Latest Stock Analysis on RIVN

Insider Activity

In related news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now directly owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

About Rivian Automotive

(Free Report)

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.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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