Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise cut its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 7.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 110,123 shares of the electric vehicle automaker’s stock after selling 9,268 shares during the period. Banque Cantonale Vaudoise’s holdings in Rivian Automotive were worth $1,236,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RIVN. Quent Capital LLC lifted its position in shares of Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Rivian Automotive by 975.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 2,380 shares during the last quarter. GHP Investment Advisors Inc. grew its position in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive during the 2nd quarter valued at approximately $37,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,876 shares of company stock worth $2,142,188 over the last ninety days. Company insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of Rivian Automotive in a report on Monday, September 30th. Bank of America lowered shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a report on Friday, November 8th. Mizuho dropped their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Robert W. Baird lowered their target price on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and an average target price of $15.73.

Rivian Automotive Trading Down 1.2 %

Shares of NASDAQ:RIVN opened at $10.05 on Thursday. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. 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 firm has a market cap of $10.26 billion, a P/E ratio of -1.79 and a beta of 2.04. The company has a 50 day moving average of $10.89 and a 200-day moving average of $12.41.

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.