Rivian Automotive, Inc. (NASDAQ:RIVN) Holdings Trimmed by Schroder Investment Management Group

Schroder Investment Management Group cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 99.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,050 shares of the electric vehicle automaker's stock after selling 19,126,690 shares during the period. Schroder Investment Management Group's holdings in Rivian Automotive were worth $408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tandem Financial LLC bought a new position in Rivian Automotive during the 4th quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in shares of Rivian Automotive during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the third quarter worth about $28,000. Bear Mountain Capital Inc. increased its holdings in Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after buying an additional 1,932 shares during the last quarter. Finally, AllSquare Wealth Management LLC raised 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 valued at $40,000 after buying an additional 2,990 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

NASDAQ:RIVN traded up $0.01 during midday trading on Friday, hitting $11.47. 22,858,862 shares of the stock were exchanged, compared to its average volume of 37,102,020. The business has a 50-day moving average price of $11.99 and a two-hundred day moving average price of $12.05. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of -2.43 and a beta of 1.89. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.86.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The business 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%. Sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, 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. In the last three months, insiders sold 185,427 shares of company stock valued at $2,237,044. 2.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RIVN shares. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Rivian Automotive in a research report on Tuesday, March 18th. Truist Financial lifted their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Guggenheim dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Robert W. Baird reaffirmed a "neutral" rating and issued a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, TD Cowen started coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They set a "hold" rating and a $12.70 price objective on the stock. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and an average price target of $14.25.

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.