Gries Financial LLC Has $180,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Gries Financial LLC trimmed its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 15.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,497 shares of the electric vehicle automaker’s stock after selling 2,424 shares during the period. Gries Financial LLC’s holdings in Rivian Automotive were worth $180,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after acquiring an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Rivian Automotive by 1,870.7% during the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after purchasing an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC lifted its stake in shares of Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after purchasing an additional 124,950 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after purchasing an additional 120,544 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Rivian Automotive by 42.7% during the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after buying an additional 54,053 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $12.51 on Friday. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of -2.23 and a beta of 2.05. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The business has a fifty day simple moving average of $13.39 and a 200 day simple moving average of $12.90. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 363,142 shares of company stock valued at $4,958,860 in the last 90 days. 2.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIVN. Piper Sandler decreased their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Truist Financial increased their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barclays raised their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and an average target price of $15.13.

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.