Metis Global Partners LLC Sells 15,132 Shares of Rivian Automotive, Inc. $RIVN

Metis Global Partners LLC trimmed its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 9.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 148,213 shares of the electric vehicle automaker’s stock after selling 15,132 shares during the period. Metis Global Partners LLC’s holdings in Rivian Automotive were worth $2,036,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. boosted its holdings 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 valued at $25,000 after acquiring an additional 1,357 shares during the last quarter. Banque Transatlantique SA raised its holdings in shares of Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 2,243 shares during the last quarter. Fairman Group LLC bought a new position in Rivian Automotive during the second quarter valued at approximately $31,000. WPG Advisers LLC purchased a new stake in Rivian Automotive in the first quarter worth approximately $34,000. Finally, PFS Partners LLC grew its position in Rivian Automotive by 50.5% in the 2nd quarter. PFS Partners LLC now owns 2,982 shares of the electric vehicle automaker’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group increased their price target on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, October 6th. JPMorgan Chase & Co. upped their price objective on Rivian Automotive from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Stifel Nicolaus lowered their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Mizuho reiterated an “underperform” rating and issued a $10.00 price objective (down previously from $14.00) on shares of Rivian Automotive in a research note on Monday, October 20th. Finally, The Goldman Sachs Group decreased their price objective on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.75.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the transaction, the chief financial officer owned 789,445 shares in the company, valued at $9,694,384.60. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total value of $244,300.00. Following the completion of the sale, the chief executive officer owned 1,316,205 shares in the company, valued at approximately $18,426,870. The trade was a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 42,147 shares of company stock valued at $577,593. 2.16% of the stock is owned by insiders.

Rivian Automotive Trading Up 0.1%

RIVN stock opened at $15.23 on Monday. The firm has a market cap of $18.48 billion, a PE ratio of -4.90 and a beta of 1.82. The firm has a fifty day moving average price of $13.90 and a 200 day moving average price of $13.70. 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 fifty-two week low of $9.55 and a fifty-two week high of $17.15.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company posted ($1.08) EPS. The business’s revenue was up 78.3% on a year-over-year basis. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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.