Brooklyn Investment Group Sells 777 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Brooklyn Investment Group decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,932 shares of the electric vehicle automaker’s stock after selling 777 shares during the period. Brooklyn Investment Group’s holdings in Rivian Automotive were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. John G Ullman & Associates Inc. increased its position in Rivian Automotive by 9.1% during the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Rivian Automotive by 1.4% during the second quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock worth $1,033,000 after purchasing an additional 1,055 shares during the period. Tradition Wealth Management LLC raised its position in shares of Rivian Automotive by 11.9% in the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock valued at $132,000 after buying an additional 1,250 shares in the last quarter. Finally, Regal Investment Advisors LLC boosted its stake in shares of Rivian Automotive by 7.0% in the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock valued at $262,000 after buying an additional 1,281 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RIVN. Canaccord Genuity Group cut their target price on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 22nd. Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $13.00 in a research report on Friday, November 8th. Piper Sandler reduced their price target on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Guggenheim decreased their price objective on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus target price of $15.48.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,429 shares of company stock worth $4,467,450 over the last ninety days. Insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Down 1.6 %

Shares of RIVN opened at $14.21 on Monday. The company has a market capitalization of $14.50 billion, a PE ratio of -2.54 and a beta of 2.05. The stock’s 50-day moving average price is $12.96 and its two-hundred day moving average price is $13.05. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85.

Rivian Automotive Company 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.