Grey Fox Wealth Advisors LLC Has $242,000 Stock Position in Rivian Automotive, Inc. $RIVN

Grey Fox Wealth Advisors LLC lessened its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 27.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,605 shares of the electric vehicle automaker’s stock after selling 6,659 shares during the period. Grey Fox Wealth Advisors LLC’s holdings in Rivian Automotive were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RIVN. Assetmark Inc. boosted its stake 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 worth $25,000 after acquiring an additional 1,357 shares in the last quarter. Fairman Group LLC bought a new position in shares of Rivian Automotive in the 2nd quarter valued at approximately $31,000. Banque Transatlantique SA lifted its holdings in 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 purchasing an additional 2,243 shares during the last quarter. WPG Advisers LLC acquired a new stake in Rivian Automotive in the 1st quarter worth approximately $34,000. Finally, PFS Partners LLC boosted its position 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. 66.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RIVN shares. Wall Street Zen cut shares of Rivian Automotive from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 target price on shares of Rivian Automotive in a report on Friday, October 3rd. Mizuho restated an “underperform” rating and set a $10.00 price target (down from $14.00) on shares of Rivian Automotive in a report on Monday, October 20th. Wedbush lowered their price target on Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.67.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the company’s 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 transaction, the chief executive officer owned 1,316,205 shares of the company’s stock, valued at $18,426,870. This represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 7,247 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares of the company’s stock, valued at approximately $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,147 shares of company stock worth $577,593 over the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $15.22 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.72. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of -4.89 and a beta of 1.81. The company’s fifty day moving average is $13.87 and its two-hundred day moving average is $13.64. Rivian Automotive, Inc. has a 52-week low of $9.55 and a 52-week high of $17.15.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.32). Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted ($1.46) EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.