Cetera Investment Advisers Sells 4,611 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Cetera Investment Advisers reduced its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 188,867 shares of the electric vehicle automaker’s stock after selling 4,611 shares during the quarter. Cetera Investment Advisers’ holdings in Rivian Automotive were worth $2,512,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Brevan Howard Capital Management LP bought a new position in Rivian Automotive in the 4th quarter worth $2,698,000. Caxton Associates LP bought a new position in Rivian Automotive in the 4th quarter worth $1,011,000. Baker Avenue Asset Management LP increased its stake in Rivian Automotive by 11.1% in the 4th quarter. Baker Avenue Asset Management LP now owns 292,966 shares of the electric vehicle automaker’s stock worth $3,896,000 after buying an additional 29,253 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Rivian Automotive during the fourth quarter valued at about $892,000. Finally, 1248 Management LLC bought a new stake in Rivian Automotive during the fourth quarter valued at about $348,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Trading Up 3.3%

Shares of NASDAQ RIVN opened at $15.81 on Friday. The business’s 50 day moving average is $12.39 and its two-hundred day moving average is $12.51. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $18.86. The stock has a market capitalization of $17.88 billion, a P/E ratio of -3.35 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on RIVN. Mizuho raised their price target on Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen began coverage on Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 price target on the stock. Bank of America cut Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $13.00 to $10.00 in a report on Monday, February 24th. Needham & Company LLC decreased their price target on Rivian Automotive from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Robert W. Baird decreased their price target on Rivian Automotive from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.24.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 9,937 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total value of $149,055.00. Following the transaction, the chief financial officer now owns 851,637 shares of the company’s stock, valued at $12,774,555. This trade represents a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,364 shares of company stock worth $2,303,960 over the last 90 days. Company insiders own 2.16% of the company’s stock.

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.