Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 18,501 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Claire Mcdonough also recently made the following trade(s):

• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The stock was sold at an average price of $12.20, for a total value of $98,783.40.
• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The stock was sold at an average price of $10.03, for a total value of $32,196.30.

Rivian Automotive Stock Performance

Shares of NASDAQ:RIVN opened at $13.06 on Thursday. The business has a fifty day moving average of $11.32 and a 200-day moving average of $12.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The firm has a market cap of $13.33 billion, a PE ratio of -2.33 and a beta of 2.12.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the 3rd quarter worth $28,000. GHP Investment Advisors Inc. lifted its stake in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the period. American Capital Advisory LLC boosted its holdings in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. increased its position in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Rivian Automotive during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RIVN shares. Needham & Company LLC dropped their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Mizuho dropped their price target on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price target on shares of Rivian Automotive in a report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.74.

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.