Banque Cantonale Vaudoise Lowers Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Banque Cantonale Vaudoise trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,123 shares of the electric vehicle automaker’s stock after selling 9,268 shares during the period. Banque Cantonale Vaudoise’s holdings in Rivian Automotive were worth $1,236,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Quent Capital LLC raised its position in Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Rivian Automotive by 63.2% during the 3rd 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. EverSource Wealth Advisors LLC increased its holdings in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 2,380 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive in the second quarter valued at about $37,000. Finally, First Horizon Advisors Inc. boosted its holdings in Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after buying an additional 670 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $10.05 on Thursday. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of -1.79 and a beta of 2.04. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The firm’s fifty day simple moving average is $10.89 and its 200 day simple moving average is $12.41.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RIVN. Royal Bank of Canada dropped their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Morgan Stanley lowered shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Wednesday, September 25th. Mizuho dropped their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has an average rating of “Hold” and an average target price of $15.73.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,876 shares of company stock valued at $2,142,188 over the last three months. 2.51% of the stock is owned by company insiders.

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.