ExodusPoint Capital Management LP Sells 60,349 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

ExodusPoint Capital Management LP reduced its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,361 shares of the electric vehicle automaker's stock after selling 60,349 shares during the quarter. ExodusPoint Capital Management LP's holdings in Rivian Automotive were worth $2,585,000 as of its most recent SEC filing.

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

Rivian Automotive Trading Down 2.1 %

NASDAQ RIVN traded down $0.24 on Friday, hitting $11.22. 10,353,999 shares of the company were exchanged, compared to its average volume of 37,225,800. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $18.86. The firm has a market capitalization of $12.69 billion, a P/E ratio of -2.38 and a beta of 1.89. The company's 50 day moving average price is $12.02 and its 200-day moving average price is $12.05.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion during 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%. Analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RIVN has been the subject of several recent research reports. The Goldman Sachs Group dropped their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. Baird R W cut shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Wells Fargo & Company increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Barclays upped their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Finally, TD Cowen started coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price on the stock. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $14.25.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction 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 transaction, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $10,082,590.02. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,427 shares of company stock worth $2,237,044. Corporate insiders own 2.51% 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.