Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 457,024 shares of the electric vehicle automaker's stock after selling 40,724 shares during the quarter. Stifel Financial Corp's holdings in Rivian Automotive were worth $5,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP bought a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $183,000. Royal London Asset Management Ltd. increased its stake in Rivian Automotive by 11.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 333,123 shares of the electric vehicle automaker's stock valued at $3,738,000 after purchasing an additional 33,047 shares in the last quarter. Investment Management Corp of Ontario boosted its position in Rivian Automotive by 52.1% in the third quarter. Investment Management Corp of Ontario now owns 24,533 shares of the electric vehicle automaker's stock valued at $275,000 after buying an additional 8,400 shares during the last quarter. Janus Henderson Group PLC grew its position in Rivian Automotive by 107.6% during the 3rd quarter. Janus Henderson Group PLC now owns 86,241 shares of the electric vehicle automaker's stock worth $968,000 after purchasing an additional 44,700 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $832,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays cut their price objective on Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group lowered their price target on Rivian Automotive from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, October 7th. Wolfe Research assumed coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Finally, Truist Financial reduced their price objective on shares of Rivian Automotive from $16.00 to $12.00 and set a "hold" rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of "Hold" and a consensus price target of $15.83.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company's stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,974 shares of company stock worth $2,038,483 in the last 90 days. Corporate insiders own 2.51% of the company's stock.

Rivian Automotive Price Performance

RIVN stock traded up $0.17 during midday trading on Friday, hitting $14.37. The stock had a trading volume of 32,045,961 shares, compared to its average volume of 43,474,268. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.61. The stock has a 50-day simple moving average of $11.08 and a 200 day simple moving average of $12.66. 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 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.