Mizuho Markets Americas LLC Trims Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mizuho Markets Americas LLC trimmed its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 20.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,618 shares of the electric vehicle automaker's stock after selling 105,095 shares during the period. Mizuho Markets Americas LLC's holdings in Rivian Automotive were worth $5,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RIVN. Principal Securities Inc. bought a new position in Rivian Automotive in the fourth quarter valued at $33,000. Fairman Group LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at about $36,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at about $40,000. Private Wealth Management Group LLC bought a new stake in Rivian Automotive during the fourth quarter worth about $44,000. Finally, Quent Capital LLC boosted its position in Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 831 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RIVN has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Rivian Automotive from $10.00 to $14.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 26th. Truist Financial upped their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Rivian Automotive from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 16th. Guggenheim initiated coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They set a "buy" rating and a $18.00 price objective on the stock. Finally, Morgan Stanley raised their target price on shares of Rivian Automotive from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.14.

Rivian Automotive Stock Up 0.3 %

Shares of NASDAQ RIVN traded up $0.04 during midday trading on Friday, reaching $14.13. The company's stock had a trading volume of 22,865,422 shares, compared to its average volume of 29,003,334. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.87. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The business's 50 day moving average price is $14.92 and its two-hundred day moving average price is $12.31.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, equities analysts forecast that Rivian Automotive, Inc. will post -4.72 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 200,000 shares of the company's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $16,374,438. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert J. Scaringe sold 200,000 shares of the firm's stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $16,374,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. The disclosure for this sale can be found here. Insiders have sold a total of 488,926 shares of company stock worth $7,552,869 over the last 90 days. Insiders own 2.30% of the company's stock.

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.