Teachers Retirement System of The State of Kentucky Has $7.38 Million Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 554,682 shares of the electric vehicle automaker's stock after selling 34,700 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Rivian Automotive worth $7,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

RIVN has been the topic of a number of recent analyst reports. Barclays raised their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein initiated coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective for the company. Cowen began coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They set a "hold" rating for the company. Guggenheim dropped their price objective on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Finally, Mizuho decreased their target price on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and an average price target of $14.17.

Insider Activity

In other news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at $9,596,373.75. The trade was a 7.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock valued at $2,154,905. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Price Performance

RIVN traded up $0.53 during midday trading on Friday, hitting $12.62. The company had a trading volume of 24,431,823 shares, compared to its average volume of 36,432,809. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a market capitalization of $14.27 billion, a PE ratio of -2.67 and a beta of 1.89. The firm's 50-day simple moving average is $11.74 and its 200-day simple moving average is $12.09. Rivian Automotive, Inc. has a twelve month low of $8.46 and a twelve month high of $18.86.

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

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.