Mizuho Markets Americas LLC Sells 105,095 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mizuho Markets Americas LLC decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 20.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 406,618 shares of the electric vehicle automaker’s stock after selling 105,095 shares during the period. Mizuho Markets Americas LLC’s holdings in Rivian Automotive were worth $5,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RIVN. Quent Capital LLC grew its holdings in Rivian Automotive by 74.3% during the 2nd 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 grew its stake in shares of Rivian Automotive by 975.4% during the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 2,380 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $33,000. Benjamin Edwards Inc. bought a new stake in shares of Rivian Automotive during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN traded up $0.04 during trading hours on Friday, reaching $14.13. The stock had a trading volume of 22,865,422 shares, compared to its average volume of 29,003,334. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.87. The stock has a fifty day moving average of $14.92 and a 200 day moving average of $12.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Research analysts forecast that Rivian Automotive, Inc. will post -4.72 earnings per share for the current year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 488,926 shares of company stock valued at $7,552,869. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIVN. Wells Fargo & Company lowered their target price on shares of Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price target on shares of Rivian Automotive in a research note on Friday, August 16th. Needham & Company LLC dropped their price objective on Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial lifted their price objective on Rivian Automotive from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $21.00 price target on shares of Rivian Automotive in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $18.14.

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.