Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 6,856 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00.
• 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 transaction of $98,783.40.

Rivian Automotive Stock Down 3.5 %

Shares of RIVN stock traded down $0.51 on Wednesday, hitting $13.93. The company’s stock had a trading volume of 28,690,248 shares, compared to its average volume of 32,959,371. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm’s fifty day moving average price is $13.60 and its 200-day moving average price is $12.53.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parr Mcknight Wealth Management Group LLC bought a new position in Rivian Automotive in the 4th quarter worth $206,000. Neo Ivy Capital Management raised its holdings in Rivian Automotive by 23.8% in the 4th quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock worth $2,097,000 after acquiring an additional 30,300 shares during the period. Orion Capital Management LLC bought a new position in Rivian Automotive in the 4th quarter worth $34,000. Elequin Capital LP bought a new position in Rivian Automotive in the 4th quarter worth $49,000. Finally, Valueworks LLC raised its holdings in Rivian Automotive by 17.1% in the 4th quarter. Valueworks LLC now owns 1,238,315 shares of the electric vehicle automaker’s stock worth $16,470,000 after acquiring an additional 180,860 shares during the period. Institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RIVN shares. Benchmark started coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Truist Financial raised their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Finally, UBS Group raised their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.13.

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.