EMC Capital Management Has $67,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

EMC Capital Management lessened its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 82.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,000 shares of the electric vehicle automaker's stock after selling 23,206 shares during the period. EMC Capital Management's holdings in Rivian Automotive were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RIVN. Swedbank AB lifted its position in shares of Rivian Automotive by 5.6% during the fourth quarter. Swedbank AB now owns 502,644 shares of the electric vehicle automaker's stock worth $6,685,000 after purchasing an additional 26,474 shares during the last quarter. R Squared Ltd acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $53,000. SteelPeak Wealth LLC lifted its holdings in shares of Rivian Automotive by 46.4% in the 4th quarter. SteelPeak Wealth LLC now owns 18,560 shares of the electric vehicle automaker's stock worth $247,000 after purchasing an additional 5,886 shares during the last quarter. Jeppson Wealth Management LLC boosted its position in Rivian Automotive by 15.1% during the 4th quarter. Jeppson Wealth Management LLC now owns 18,671 shares of the electric vehicle automaker's stock valued at $248,000 after purchasing an additional 2,445 shares during the period. Finally, BankPlus Wealth Management LLC bought a new position in Rivian Automotive during the 4th quarter worth $165,000. 66.25% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now owns 378,498 shares of the company's stock, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RIVN. Canaccord Genuity Group lowered their price target on shares of Rivian Automotive from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, October 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price objective on shares of Rivian Automotive in a report on Monday, January 6th. Wells Fargo & Company cut their target price on Rivian Automotive from $15.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 15th. Bank of America cut shares of Rivian Automotive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $13.00 in a report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.13.

Rivian Automotive Stock Up 3.3 %

RIVN stock traded up $0.41 during trading hours on Tuesday, hitting $12.80. The company's stock had a trading volume of 13,870,549 shares, compared to its average volume of 36,274,402. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $13.46 and a two-hundred day moving average price of $12.76. The company has a market capitalization of $13.06 billion, a PE ratio of -2.28 and a beta of 2.04. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85.

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.