Centaurus Financial Inc. Reduces Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Centaurus Financial Inc. decreased its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,939 shares of the electric vehicle automaker’s stock after selling 3,904 shares during the period. Centaurus Financial Inc.’s holdings in Rivian Automotive were worth $100,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quent Capital LLC lifted its stake 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 valued at $26,000 after purchasing an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Rivian Automotive by 975.4% in the first 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 during the last quarter. GHP Investment Advisors Inc. lifted its stake in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC lifted its stake in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Rivian Automotive during the second quarter worth $37,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Up 5.8 %

Shares of NASDAQ:RIVN opened at $12.22 on Friday. The stock’s 50-day moving average price is $10.67 and its 200-day moving average price is $12.45. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61. The stock has a market capitalization of $12.47 billion, a P/E ratio of -2.18 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.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction dated 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 owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,210 shares of company stock worth $3,079,695. Company insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research report on Friday, November 8th. Piper Sandler dropped their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $19.00 target price on shares of Rivian Automotive in a research report on Monday, September 30th. Finally, Truist Financial dropped their target price on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.73.

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.