Gilder Gagnon Howe & Co. LLC Reduces Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Gilder Gagnon Howe & Co. LLC cut its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 15.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,029,534 shares of the electric vehicle automaker’s stock after selling 569,686 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Rivian Automotive were worth $40,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RIVN. Tradition Wealth Management LLC grew its stake in shares of Rivian Automotive by 7.2% during the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock valued at $168,000 after buying an additional 849 shares during the last quarter. RFG Holdings Inc. boosted its holdings in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock valued at $296,000 after acquiring an additional 1,096 shares during the period. Oppenheimer & Co. Inc. grew its position in Rivian Automotive by 4.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock valued at $354,000 after acquiring an additional 1,160 shares during the last quarter. Freestone Capital Holdings LLC grew its position in Rivian Automotive by 4.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker’s stock valued at $390,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in Rivian Automotive by 8.3% in the fourth quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker’s stock worth $228,000 after purchasing an additional 1,314 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the sale, the chief executive officer now directly owns 853,011 shares of the company’s stock, valued at approximately $9,775,506.06. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is owned by corporate insiders.

Rivian Automotive Trading Up 4.4 %

Shares of NASDAQ:RIVN opened at $12.62 on Friday. The business’s 50-day moving average is $11.71 and its 200 day moving average is $12.11. 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, Inc. has a 1 year low of $8.50 and a 1 year high of $18.86. The firm has a market capitalization of $14.27 billion, a P/E ratio of -2.67 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion for 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, research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RIVN has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Bank of America downgraded shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. The Goldman Sachs Group decreased their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Guggenheim dropped their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, Mizuho decreased their target price on Rivian Automotive from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.08.

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.