Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Cypress Capital LLC

Cypress Capital LLC decreased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,018 shares of the electric vehicle automaker’s stock after selling 1,797 shares during the period. Cypress Capital LLC’s holdings in Rivian Automotive were worth $160,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Creative Planning lifted its position in Rivian Automotive by 6.7% in the third quarter. Creative Planning now owns 115,686 shares of the electric vehicle automaker’s stock valued at $1,298,000 after purchasing an additional 7,236 shares during the period. Blue Trust Inc. increased its holdings in Rivian Automotive by 40.3% in the third quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock valued at $51,000 after buying an additional 1,301 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Rivian Automotive in the third quarter valued at about $112,000. Signaturefd LLC increased its holdings in Rivian Automotive by 10.8% in the third quarter. Signaturefd LLC now owns 24,721 shares of the electric vehicle automaker’s stock valued at $277,000 after buying an additional 2,413 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Rivian Automotive by 1,870.7% in the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after buying an additional 51,464 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the sale, the chief financial officer now directly owns 370,401 shares in the company, valued at $4,518,892.20. The trade was a 2.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the business’s 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 sale, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,788 shares of company stock valued at $5,024,431. 2.51% of the stock is owned by company insiders.

Rivian Automotive Price Performance

RIVN opened at $12.97 on Friday. The company’s 50 day moving average is $13.56 and its 200-day moving average is $12.53. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. 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 (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RIVN shares. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 target price for the company. Cantor Fitzgerald cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and increased their target price for the company from $13.00 to $15.00 in a report on Friday. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Needham & Company LLC raised their price objective on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Guggenheim dropped their price objective on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and a consensus target price of $15.50.

About Rivian Automotive

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.