B. Metzler seel. Sohn & Co. AG Sells 6,410 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

B. Metzler seel. Sohn & Co. AG reduced its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 10.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 52,833 shares of the electric vehicle automaker’s stock after selling 6,410 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Rivian Automotive were worth $703,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in Rivian Automotive by 38.0% during the 3rd quarter. Cerity Partners LLC now owns 61,927 shares of the electric vehicle automaker’s stock valued at $695,000 after purchasing an additional 17,039 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Rivian Automotive by 6.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 76,651 shares of the electric vehicle automaker’s stock valued at $860,000 after purchasing an additional 4,338 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Rivian Automotive during the third quarter valued at about $263,000. Captrust Financial Advisors raised its stake in Rivian Automotive by 19.4% in the third quarter. Captrust Financial Advisors now owns 41,474 shares of the electric vehicle automaker’s stock worth $465,000 after buying an additional 6,738 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Rivian Automotive in the third quarter worth about $1,158,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Stock Performance

Shares of RIVN opened at $11.21 on Friday. The firm has a market capitalization of $12.68 billion, a P/E ratio of -2.37 and a beta of 2.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.86. The business has a fifty day moving average of $12.17 and a 200 day moving average of $12.10.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RIVN. Needham & Company LLC increased their target price on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Bank of America downgraded Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $13.00 to $10.00 in a report on Monday, February 24th. Piper Sandler cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, Robert W. Baird reissued a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average target price of $14.38.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now directly owns 853,011 shares of the company’s stock, valued at approximately $10,082,590.02. This trade represents a 7.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This 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 185,427 shares of company stock worth $2,588,475. 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.