Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd reduced its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,400 shares of the electric vehicle automaker’s stock after selling 4,600 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Rivian Automotive were worth $192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tandem Financial LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in Rivian Automotive in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the third quarter worth $28,000. Hantz Financial Services Inc. lifted its position in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the last quarter. Finally, Bear Mountain Capital Inc. boosted its holdings in shares of Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after buying an additional 1,932 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the transaction, the chief executive officer now directly owns 853,011 shares of the company’s stock, valued at approximately $10,082,590.02. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock worth $2,588,475 over the last quarter. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $12.45 on Tuesday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86. The company has a market cap of $14.08 billion, a PE ratio of -2.64 and a beta of 2.03. The stock’s 50-day moving average price is $12.22 and its two-hundred day moving average price is $12.11.

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, beating analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analyst Ratings Changes

RIVN has been the topic of several research reports. Cowen assumed coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They set a “hold” rating on the stock. Robert W. Baird restated a “neutral” rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Mizuho cut their price objective on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, UBS Group upped their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.38.

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.