Rivian Automotive, Inc. $RIVN Stock Position Lessened by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 28.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,671 shares of the electric vehicle automaker’s stock after selling 24,862 shares during the period. Westwood Holdings Group Inc.’s holdings in Rivian Automotive were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RIVN. Assetmark Inc. grew its position in Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 1,357 shares in the last quarter. Banque Transatlantique SA lifted its stake in shares of 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 acquiring an additional 2,243 shares during the period. Fairman Group LLC acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth approximately $31,000. WPG Advisers LLC bought a new position in shares of Rivian Automotive in the first quarter valued at approximately $34,000. Finally, PFS Partners LLC increased its stake in shares of 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 acquiring an additional 1,000 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 52,350 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the completion of the sale, the chief executive officer directly owned 1,246,405 shares in the company, valued at approximately $20,690,323. This trade represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 87,250 shares of company stock valued at $1,357,610. 2.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on RIVN shares. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a research note on Wednesday, October 8th. Tigress Financial boosted their price target on shares of Rivian Automotive from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.34.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $14.68 on Monday. The company has a market cap of $18.00 billion, a P/E ratio of -4.71 and a beta of 1.81. The company’s fifty day moving average is $14.17 and its two-hundred day moving average is $13.83. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. Rivian Automotive, Inc. has a 12-month low of $9.85 and a 12-month high of $18.13.

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.