Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 229,005 shares of the electric vehicle automaker’s stock after selling 21,512 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Rivian Automotive were worth $3,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RIVN. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive during the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive during the third quarter worth $28,000. Bear Mountain Capital Inc. raised its holdings in shares of Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after purchasing an additional 1,932 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of Rivian Automotive by 2,636.4% during 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 period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RIVN shares. Needham & Company LLC increased their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 target price on the stock. 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 report on Thursday, January 16th. Cowen began coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They set a “hold” rating for the company. Finally, Truist Financial upped their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $14.38.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $11.60 on Monday. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $12.41 and a 200-day moving average of $12.16. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 2.03.

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

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,998 shares of company stock valued at $1,744,184. 2.51% of the stock is currently owned by corporate insiders.

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.