Claire Mcdonough Sells 21,210 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 21,210 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $17.14, for a total transaction of $363,539.40. Following the completion of the transaction, the chief financial officer directly owned 738,056 shares of the company’s stock, valued at $12,650,279.84. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, December 4th, Claire Mcdonough sold 8,039 shares of Rivian Automotive stock. The shares were sold at an average price of $18.00, for a total transaction of $144,702.00.

Rivian Automotive Price Performance

NASDAQ:RIVN traded up $0.53 on Thursday, hitting $18.06. The company had a trading volume of 38,907,862 shares, compared to its average volume of 38,304,238. Rivian Automotive, Inc. has a 52 week low of $10.36 and a 52 week high of $18.17. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of -5.81 and a beta of 1.79. The firm has a 50 day moving average of $14.56 and a two-hundred day moving average of $13.98.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. DA Davidson raised their price objective on shares of Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Tigress Financial lifted their target price on shares of Rivian Automotive from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Stifel Nicolaus boosted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley dropped their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.34.

Institutional Trading of Rivian Automotive

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in Rivian Automotive by 179.5% during the 3rd quarter. Allworth Financial LP now owns 30,262 shares of the electric vehicle automaker’s stock valued at $444,000 after purchasing an additional 19,434 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Rivian Automotive by 27.1% during the third quarter. Swiss Life Asset Management Ltd now owns 134,991 shares of the electric vehicle automaker’s stock worth $1,982,000 after buying an additional 28,759 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Rivian Automotive by 47.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 22,018 shares of the electric vehicle automaker’s stock worth $323,000 after purchasing an additional 7,115 shares during the period. Centaurus Financial Inc. bought a new position in Rivian Automotive during the third quarter valued at $110,000. Finally, Coldstream Capital Management Inc. increased its position in Rivian Automotive by 128.9% in the third quarter. Coldstream Capital Management Inc. now owns 123,865 shares of the electric vehicle automaker’s stock worth $1,818,000 after buying an additional 69,754 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.