Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Sloy Dahl & Holst LLC

Sloy Dahl & Holst LLC decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 88.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,139 shares of the electric vehicle automaker’s stock after selling 391,053 shares during the quarter. Sloy Dahl & Holst LLC’s holdings in Rivian Automotive were worth $560,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LPL Financial LLC grew its position in Rivian Automotive by 48.5% during the 3rd quarter. LPL Financial LLC now owns 370,107 shares of the electric vehicle automaker’s stock worth $8,986,000 after purchasing an additional 120,883 shares during the period. Mutual Advisors LLC acquired a new stake in Rivian Automotive during the third quarter worth about $306,000. California State Teachers Retirement System raised its position in Rivian Automotive by 1.8% during the third quarter. California State Teachers Retirement System now owns 1,006,522 shares of the electric vehicle automaker’s stock valued at $24,438,000 after acquiring an additional 17,745 shares in the last quarter. Ancora Advisors LLC acquired a new position in Rivian Automotive in the third quarter valued at approximately $27,000. Finally, Advisors Asset Management Inc. boosted its position in Rivian Automotive by 12.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 28,403 shares of the electric vehicle automaker’s stock worth $690,000 after purchasing an additional 3,247 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Guggenheim started coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price for the company. Mizuho decreased their price objective on shares of Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Truist Financial increased their target price on shares of Rivian Automotive from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, June 26th. Royal Bank of Canada increased their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “sector perform” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.04.

Rivian Automotive Stock Up 1.4 %

Shares of Rivian Automotive stock traded up $0.21 during trading on Wednesday, hitting $15.10. 22,912,068 shares of the stock were exchanged, compared to its average volume of 43,616,082. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of -2.62 and a beta of 2.07. The firm’s 50-day moving average price is $10.90 and its 200 day moving average price is $13.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, analysts forecast that Rivian Automotive, Inc. will post -4.87 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

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.