Lindbrook Capital LLC Sells 1,312 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Lindbrook Capital LLC lessened its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 31.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,844 shares of the electric vehicle automaker’s stock after selling 1,312 shares during the period. Lindbrook Capital LLC’s holdings in Rivian Automotive were worth $38,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RIVN. Tandem Financial LLC bought a new stake in Rivian Automotive in the fourth quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive in the third quarter worth $28,000. Hantz Financial Services Inc. increased its position in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Bear Mountain Capital Inc. increased its position in Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after purchasing an additional 1,932 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RIVN. Robert W. Baird restated a “neutral” rating and issued a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Bank of America lowered shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. TD Cowen assumed coverage on shares of Rivian Automotive in a research note on Friday. They set a “hold” rating and a $12.70 price objective for the company. Mizuho lifted their price objective on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, UBS Group lifted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.73.

Rivian Automotive Stock Up 1.3 %

NASDAQ:RIVN opened at $11.17 on Friday. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.86. The company has a 50-day moving average of $13.06 and a 200 day moving average of $12.36. The firm has a market cap of $12.63 billion, a PE ratio of -2.37 and a beta of 2.03. 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 (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $11,784,877.65. 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 275,357 shares of company stock valued at $3,988,140 over the last three months. 2.51% of the stock is owned by company insiders.

Rivian Automotive 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.