Rivian Automotive, Inc. (NASDAQ:RIVN) Stake Lessened by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP decreased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,361 shares of the electric vehicle automaker’s stock after selling 60,349 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Rivian Automotive were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Tandem Financial LLC purchased a new position in Rivian Automotive during the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the third quarter valued at approximately $28,000. Bear Mountain Capital Inc. increased its stake in 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. Finally, AllSquare Wealth Management LLC lifted its position in Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock worth $40,000 after buying an additional 2,990 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 $11.21 on Tuesday. The company’s fifty day moving average is $12.14 and its two-hundred day moving average is $12.07. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -2.37 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analyst Ratings Changes

RIVN has been the topic of a number of research reports. UBS Group upped their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Guggenheim dropped their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Barclays lifted their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Piper Sandler downgraded Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $13.00 in a report on Thursday, March 20th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and an average target price of $14.38.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now owns 853,011 shares in the company, valued at $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 available at this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,998 shares of company stock worth $1,433,468. Company insiders own 2.51% 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.