Stratos Wealth Partners LTD. Sells 2,281 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Stratos Wealth Partners LTD. decreased its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 10.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,723 shares of the electric vehicle automaker’s stock after selling 2,281 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rivian Automotive were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RIVN. RFG Holdings Inc. increased its stake in shares of Rivian Automotive by 5.2% in the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after purchasing an additional 1,096 shares in the last quarter. Sloy Dahl & Holst LLC lifted its stake in Rivian Automotive by 4.7% in the 4th quarter. Sloy Dahl & Holst LLC now owns 43,171 shares of the electric vehicle automaker’s stock worth $574,000 after purchasing an additional 1,920 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Rivian Automotive by 33.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 21,994 shares of the electric vehicle automaker’s stock valued at $293,000 after purchasing an additional 5,555 shares during the period. Everett Harris & Co. CA grew its position in shares of Rivian Automotive by 41.1% during the 4th quarter. Everett Harris & Co. CA now owns 34,320 shares of the electric vehicle automaker’s stock valued at $456,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Austin Private Wealth LLC increased its holdings in shares of Rivian Automotive by 44.9% in the fourth quarter. Austin Private Wealth LLC now owns 19,453 shares of the electric vehicle automaker’s stock worth $259,000 after purchasing an additional 6,029 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RIVN. Sanford C. Bernstein began coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price objective for the company. Truist Financial upped their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $13.00 in a research report on Friday, November 8th. Piper Sandler cut their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, 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. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and a consensus target price of $15.13.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 18,501 shares of the company’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 completion of the sale, the chief financial officer now owns 351,900 shares in the company, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is currently owned by company insiders.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $13.30 on Friday. The business has a 50 day moving average of $13.55 and a 200 day moving average of $12.60. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.85. The company has a market cap of $13.57 billion, a PE ratio of -2.38 and a beta of 2.04. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

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.