Gilder Gagnon Howe & Co. LLC Sells 29,023 Shares of Rivian Automotive, Inc. $RIVN

Gilder Gagnon Howe & Co. LLC trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,642,756 shares of the electric vehicle automaker’s stock after selling 29,023 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 0.32% of Rivian Automotive worth $50,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Assetmark Inc. boosted its stake in shares of Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock worth $25,000 after acquiring an additional 1,357 shares in the last quarter. Banque Transatlantique SA lifted its holdings in Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 2,243 shares during the last quarter. Fairman Group LLC bought a new stake in Rivian Automotive during the second quarter worth approximately $31,000. WPG Advisers LLC acquired a new position in Rivian Automotive during the first quarter valued at approximately $34,000. Finally, PFS Partners LLC grew its holdings in Rivian Automotive by 50.5% during the second quarter. PFS Partners LLC now owns 2,982 shares of the electric vehicle automaker’s stock valued at $41,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 21,210 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $17.14, for a total value of $363,539.40. Following the completion of the sale, the chief financial officer owned 738,056 shares in the company, valued at approximately $12,650,279.84. This trade represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 52,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total value of $869,010.00. Following the sale, the chief executive officer owned 1,246,405 shares in the company, valued at approximately $20,690,323. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,949 shares of company stock worth $2,191,119 over the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $18.42 on Friday. The firm’s 50-day moving average is $14.97 and its 200-day moving average is $14.07. The company has a market cap of $22.58 billion, a price-to-earnings ratio of -5.92 and a beta of 1.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. Rivian Automotive, Inc. has a 52-week low of $10.36 and a 52-week high of $19.60.

Analyst Ratings Changes

A number of analysts have recently weighed in on RIVN shares. Needham & Company LLC boosted their price objective on shares of Rivian Automotive from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of Rivian Automotive from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $12.00 price target on shares of Rivian Automotive in a research report on Monday, December 8th. Finally, UBS Group lifted their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Six analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus target price of $14.86.

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.