Sapient Capital LLC Reduces Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Sapient Capital LLC lowered its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 22.8% in the 4th quarter, HoldingsChannel reports. The fund owned 23,800 shares of the electric vehicle automaker’s stock after selling 7,010 shares during the period. Sapient Capital LLC’s holdings in Rivian Automotive were worth $317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tandem Financial LLC purchased a new position in Rivian Automotive in the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive in the third quarter worth about $28,000. 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 worth $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 worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on RIVN. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. UBS Group raised their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Guggenheim decreased their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.13.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $12.44 on Wednesday. The firm’s fifty day simple moving average is $13.54 and its two-hundred day simple moving average is $12.60. 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 12-month low of $8.26 and a 12-month high of $18.85. The firm has a market capitalization of $12.70 billion, a P/E ratio of -2.22 and a beta of 2.04.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,879,847.36. The trade was a 3.97 % 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 the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is currently owned by insiders.

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.