Savant Capital LLC Reduces Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Savant Capital LLC decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 41.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,217 shares of the electric vehicle automaker’s stock after selling 75,944 shares during the period. Savant Capital LLC’s holdings in Rivian Automotive were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tandem Financial LLC purchased a new position in shares of Rivian Automotive during the 4th 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. boosted its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares during the period. American Capital Advisory LLC grew its stake in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake 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 valued at $34,000 after buying an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RIVN shares. Piper Sandler dropped their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Barclays upped their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.13.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock worth $4,958,860 over the last 90 days. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Up 6.6 %

Rivian Automotive stock opened at $13.30 on Friday. The business has a fifty day moving average price of $13.55 and a 200-day moving average price of $12.60. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of -2.38 and a beta of 2.04. 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 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.