Cetera Investment Advisers Reduces Stock Position in Rivian Automotive, Inc. $RIVN

Cetera Investment Advisers decreased its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,918 shares of the electric vehicle automaker’s stock after selling 5,470 shares during the quarter. Cetera Investment Advisers’ holdings in Rivian Automotive were worth $2,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIVN. Assetmark Inc. increased its stake in shares of Rivian Automotive by 315.6% in 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 during the last quarter. Banque Transatlantique SA boosted its position in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 2,243 shares during the last quarter. Fairman Group LLC purchased a new stake in shares of Rivian Automotive in the second quarter valued at about $31,000. WPG Advisers LLC acquired a new stake in Rivian Automotive during the first quarter worth about $34,000. Finally, PFS Partners LLC raised its stake 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 worth $41,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RIVN. DA Davidson increased their price target on shares of Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research report on Monday, August 25th. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a research note on Thursday, October 2nd. UBS Group upped their price target on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Zacks Research raised Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.34.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 52,350 shares of Rivian Automotive stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total value of $869,010.00. Following the completion of the transaction, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at $20,690,323. The trade was a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 104,700 shares of company stock worth $1,621,280. Company insiders own 2.16% of the company’s stock.

Rivian Automotive Trading Up 4.3%

RIVN opened at $16.88 on Friday. Rivian Automotive, Inc. has a 52 week low of $10.36 and a 52 week high of $18.13. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $14.45 and a 200-day simple moving average of $13.94. The firm has a market cap of $20.69 billion, a P/E ratio of -5.43 and a beta of 1.81.

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.