Gilder Gagnon Howe & Co. LLC Sells 569,686 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Gilder Gagnon Howe & Co. LLC lessened its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,029,534 shares of the electric vehicle automaker's stock after selling 569,686 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.30% of Rivian Automotive worth $40,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the third quarter worth approximately $28,000. Bear Mountain Capital Inc. lifted its holdings in Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after purchasing an additional 1,932 shares during the last quarter. Finally, AllSquare Wealth Management LLC boosted its stake in Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after purchasing an additional 2,990 shares during the period. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded up $0.53 on Friday, reaching $12.62. The stock had a trading volume of 24,445,614 shares, compared to its average volume of 36,524,350. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 1 year low of $8.84 and a 1 year high of $18.86. The company has a market cap of $14.27 billion, a P/E ratio of -2.67 and a beta of 1.89. The business's 50 day moving average is $11.71 and its two-hundred day moving average is $12.13.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its 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. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RIVN shares. Robert W. Baird dropped their target price on Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target for the company. Truist Financial lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a report on Thursday, January 16th. The Goldman Sachs Group cut their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Rivian Automotive presently has an average rating of "Hold" and a consensus target price of $14.08.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. This represents a 7.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock worth $2,154,905 over the last 90 days. Corporate insiders own 2.51% of the company's stock.

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.