Oarsman Capital Inc. Sells 1,882 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Oarsman Capital Inc. reduced its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,596 shares of the electric vehicle automaker’s stock after selling 1,882 shares during the quarter. Oarsman Capital Inc.’s holdings in Rivian Automotive were worth $154,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cerity Partners LLC lifted its position in shares of Rivian Automotive by 38.0% during the 3rd quarter. Cerity Partners LLC now owns 61,927 shares of the electric vehicle automaker’s stock valued at $695,000 after acquiring an additional 17,039 shares during the period. The Manufacturers Life Insurance Company grew its stake in Rivian Automotive by 6.0% during the third quarter. The Manufacturers Life Insurance Company now owns 76,651 shares of the electric vehicle automaker’s stock worth $860,000 after buying an additional 4,338 shares in the last quarter. Townsquare Capital LLC bought a new position in Rivian Automotive in the 3rd quarter valued at about $263,000. Captrust Financial Advisors raised its position in shares of Rivian Automotive by 19.4% in the 3rd quarter. Captrust Financial Advisors now owns 41,474 shares of the electric vehicle automaker’s stock valued at $465,000 after buying an additional 6,738 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $1,158,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RIVN. Guggenheim decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Robert W. Baird reissued a “neutral” rating and set a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $13.00 in a report on Thursday, March 20th. Finally, TD Cowen started coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 price target on the stock. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.38.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the completion of the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $10,082,590.02. This represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,588,475 over the last quarter. Insiders own 2.51% of the company’s stock.

Rivian Automotive Trading Down 2.8 %

Shares of RIVN stock opened at $11.21 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 current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of -2.37 and a beta of 1.89. The stock has a 50-day moving average of $12.17 and a 200-day moving average of $12.09.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.