Rivian Automotive, Inc. $RIVN Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 68.1% during the 4th quarter, Holdings Channel reports. The firm owned 28,982 shares of the electric vehicle automaker’s stock after selling 61,767 shares during the period. Banque Cantonale Vaudoise’s holdings in Rivian Automotive were worth $571,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RIVN. Brighton Jones LLC increased its stake in shares of Rivian Automotive by 28.0% during the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after buying an additional 3,864 shares during the period. AQR Capital Management LLC increased its stake in shares of Rivian Automotive by 1.5% during the first quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock worth $4,733,000 after buying an additional 5,590 shares during the period. Empowered Funds LLC increased its stake in shares of Rivian Automotive by 10.1% during the first quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after buying an additional 4,998 shares during the period. Focus Partners Wealth increased its stake in shares of Rivian Automotive by 29.0% during the first quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after buying an additional 14,497 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Rivian Automotive by 57.1% during the first quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after buying an additional 1,856 shares during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $14.22 on Friday. The firm has a market capitalization of $17.65 billion, a P/E ratio of -4.87 and a beta of 1.64. Rivian Automotive, Inc. has a 52 week low of $11.57 and a 52 week high of $22.69. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $15.32 and its two-hundred day moving average is $16.28.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 3rd. Weiss Ratings lowered shares of Rivian Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Canaccord Genuity Group restated a “buy” rating and set a $22.00 target price on shares of Rivian Automotive in a research note on Monday, April 6th. Leerink Partners restated an “outperform” rating on shares of Rivian Automotive in a research note on Thursday, March 12th. Finally, Wells Fargo & Company increased their price target on shares of Rivian Automotive from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.57.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 21,446 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $16.17, for a total transaction of $346,781.82. Following the transaction, the chief executive officer directly owned 1,001,138 shares in the company, valued at approximately $16,188,401.46. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the transaction, the chief financial officer owned 946,814 shares in the company, valued at approximately $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 92,399 shares of company stock worth $1,443,578. Insiders own 2.16% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.