Public Employees Retirement System of Ohio Trims Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Public Employees Retirement System of Ohio trimmed its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 298,866 shares of the electric vehicle automaker’s stock after selling 14,889 shares during the period. Public Employees Retirement System of Ohio’s holdings in Rivian Automotive were worth $3,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RIVN. GHP Investment Advisors Inc. increased its stake in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the last quarter. International Assets Investment Management LLC bought a new position in Rivian Automotive during the 2nd quarter valued at $37,000. First Horizon Advisors Inc. grew its holdings in Rivian Automotive by 30.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after acquiring an additional 670 shares in the last quarter. American Capital Advisory LLC increased its position 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 worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,403 shares of company stock worth $3,013,489 over the last quarter. 2.51% of the stock is currently owned by company insiders.

Rivian Automotive Stock Up 6.8 %

RIVN stock opened at $15.34 on Tuesday. The firm’s 50-day moving average is $11.18 and its two-hundred day moving average is $12.71. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of -2.74 and a beta of 2.12. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RIVN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their target price 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. Piper Sandler dropped their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a report on Tuesday, September 10th. Finally, Truist Financial dropped their target price on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.83.

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.