Oarsman Capital Inc. Sells 1,882 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Oarsman Capital Inc. lowered its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,596 shares of the electric vehicle automaker’s stock after selling 1,882 shares during the quarter. Oarsman Capital Inc.’s holdings in Rivian Automotive were worth $154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tandem Financial LLC bought a new position in Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the 3rd quarter worth approximately $28,000. Bear Mountain Capital Inc. grew its holdings in 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 valued at $36,000 after purchasing an additional 1,932 shares during the period. Finally, AllSquare Wealth Management LLC increased its stake in Rivian Automotive by 8,794.1% in the fourth quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock valued at $40,000 after purchasing an additional 2,990 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,588,475 over the last ninety days. 2.51% of the stock is currently owned by company insiders.

Rivian Automotive Stock Down 2.8 %

Shares of RIVN stock opened at $11.21 on Friday. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of -2.37 and a beta of 1.89. The firm’s 50-day moving average is $12.17 and its 200-day moving average is $12.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price target on the stock. Needham & Company LLC lifted their target price on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. TD Cowen assumed coverage on Rivian Automotive in a report on Friday, March 7th. They issued a “hold” rating and a $12.70 price target for the company. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, UBS Group raised their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.38.

About Rivian Automotive

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.