Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,583 shares of the electric vehicle automaker's stock after selling 25,440 shares during the period. Treasurer of the State of North Carolina's holdings in Rivian Automotive were worth $4,876,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP purchased a new position in shares of Rivian Automotive in the 3rd quarter worth $183,000. EP Wealth Advisors LLC bought a new stake in shares of Rivian Automotive in the 3rd quarter valued at approximately $129,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Rivian Automotive by 327.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 42,747 shares of the electric vehicle automaker's stock worth $480,000 after purchasing an additional 32,747 shares during the period. Geode Capital Management LLC increased its position in shares of Rivian Automotive by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 13,000,392 shares of the electric vehicle automaker's stock valued at $145,550,000 after purchasing an additional 223,860 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Rivian Automotive by 46.2% during the 3rd quarter. Toronto Dominion Bank now owns 100,700 shares of the electric vehicle automaker's stock valued at $1,130,000 after buying an additional 31,815 shares during the period. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Stock Up 1.0 %

RIVN traded up $0.11 during trading on Friday, hitting $11.60. The stock had a trading volume of 16,076,176 shares, compared to its average volume of 36,596,158. The stock has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $12.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a twelve month low of $8.32 and a twelve month high of $18.86. The company has a market capitalization of $13.12 billion, a PE ratio of -2.46 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data 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. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. On average, research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on RIVN. Mizuho lowered their target price on shares of Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Guggenheim dropped their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, February 24th. TD Cowen assumed coverage on Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 price target on the stock. Sanford C. Bernstein initiated coverage on Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price on the stock. Finally, Bank of America lowered shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $13.00 to $10.00 in a research note on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.17.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 trade represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,427 shares of company stock worth $2,237,044. 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.