Vontobel Holding Ltd. Sells 97,784 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Vontobel Holding Ltd. decreased its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 68.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,928 shares of the electric vehicle automaker's stock after selling 97,784 shares during the period. Vontobel Holding Ltd.'s holdings in Rivian Automotive were worth $598,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RIVN. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the third quarter worth $28,000. GHP Investment Advisors Inc. increased its holdings in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after purchasing an additional 1,002 shares during the period. American Capital Advisory LLC increased its holdings in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after purchasing an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after purchasing an additional 2,900 shares during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

Analysts Set New Price Targets

RIVN has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. UBS Group lifted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Truist Financial lifted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC lifted their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive has an average rating of "Hold" and a consensus price target of $15.50.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,788 shares of company stock worth $5,024,431. 2.51% of the stock is owned by insiders.

Rivian Automotive Stock Performance

Rivian Automotive stock traded down $0.56 during trading hours on Friday, reaching $13.05. 58,251,877 shares of the stock were exchanged, compared to its average volume of 34,251,285. The stock has a market cap of $13.32 billion, a P/E ratio of -2.33 and a beta of 2.04. 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 52-week low of $8.26 and a 52-week high of $18.85. The firm's 50 day moving average is $13.59 and its 200 day moving average is $12.54.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. Analysts predict that Rivian Automotive, Inc. will post -4.7 EPS for the current fiscal year.

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.