Mark Sheptoff Financial Planning LLC Has $450,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mark Sheptoff Financial Planning LLC reduced its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 30.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,175 shares of the electric vehicle automaker’s stock after selling 8,200 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Rivian Automotive were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RIVN. Stifel Financial Corp raised its stake in shares of Rivian Automotive by 7.3% during the third quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock valued at $6,997,000 after acquiring an additional 19,699 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Rivian Automotive in the 3rd quarter valued at about $4,473,000. Atria Wealth Solutions Inc. grew its position in shares of Rivian Automotive by 448.0% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock valued at $5,569,000 after buying an additional 187,495 shares during the last quarter. Morgan Stanley increased its stake in shares of Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after buying an additional 1,193,650 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Rivian Automotive in the third quarter worth approximately $1,806,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

RIVN traded down $0.70 during trading on Thursday, reaching $10.00. The stock had a trading volume of 26,117,268 shares, compared to its average volume of 42,287,891. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The business has a 50-day moving average of $10.08 and a 200-day moving average of $14.56. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The stock has a market cap of $9.95 billion, a PE ratio of -1.75 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. As a group, equities research analysts anticipate that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on RIVN shares. Wells Fargo & Company decreased their target price on shares of Rivian Automotive from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Piper Sandler raised shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price target for the company from $15.00 to $21.00 in a research report on Friday, March 15th. Cantor Fitzgerald lowered their price objective on Rivian Automotive from $23.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. downgraded Rivian Automotive from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $20.00 to $11.00 in a research note on Thursday, February 22nd. Finally, Evercore ISI lowered their target price on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity

In related news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the sale, the chief accounting officer now directly owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.