Aigen Investment Management LP Has $242,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Aigen Investment Management LP cut its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 59.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,226 shares of the electric vehicle automaker's stock after selling 26,420 shares during the period. Aigen Investment Management LP's holdings in Rivian Automotive were worth $242,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Tandem Financial LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new position in Rivian Automotive during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the third quarter valued at approximately $28,000. Bear Mountain Capital Inc. grew its position in Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after buying an additional 1,932 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Rivian Automotive by 2,636.4% in 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 in the last quarter. Institutional investors own 66.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald lowered shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $13.00 to $15.00 in a research note on Friday, February 21st. Sanford C. Bernstein started coverage on Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price for the company. Robert W. Baird reaffirmed a "neutral" rating and set a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, TD Cowen initiated coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.73.

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Rivian Automotive Stock Up 2.4 %

Shares of NASDAQ RIVN traded up $0.26 during trading hours on Wednesday, hitting $11.05. The company had a trading volume of 6,370,980 shares, compared to its average volume of 37,257,369. The firm's 50 day moving average is $12.96 and its 200-day moving average is $12.32. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.86. The stock has a market capitalization of $12.49 billion, a P/E ratio of -2.33 and a beta of 2.03. 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 (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.43 billion. On average, analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,357 shares of company stock valued at $3,988,140 over the last quarter. 2.51% of the stock is owned by corporate insiders.

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.