Baillie Gifford & Co. Sells 754,133 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Baillie Gifford & Co. cut its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,603,446 shares of the electric vehicle automaker’s stock after selling 754,133 shares during the period. Baillie Gifford & Co. owned approximately 4.86% of Rivian Automotive worth $659,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tandem Financial LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive in the 3rd quarter valued at approximately $28,000. GHP Investment Advisors Inc. lifted its stake in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC lifted its stake in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $14.03 on Monday. 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. The business’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $12.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RIVN shares. Mizuho lowered their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler reduced their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Benchmark started coverage on Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reduced their price target on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.13.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now owns 351,900 shares of the company’s stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,932 shares of company stock valued at $4,926,664 in the last quarter. 2.51% of the stock is currently owned by corporate insiders.

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.