Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 17,185 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 17,185 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the sale, the chief financial officer now directly owns 824,875 shares of the company’s stock, valued at approximately $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, May 13th, Claire Mcdonough sold 9,937 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total value of $149,055.00.
• On Wednesday, February 19th, Claire Mcdonough sold 6,856 shares of Rivian Automotive stock. The stock was sold at an average price of $14.26, for a total value of $97,766.56.

Rivian Automotive Stock Performance

RIVN stock traded up $0.48 during trading on Monday, reaching $16.29. 43,821,399 shares of the stock were exchanged, compared to its average volume of 36,119,721. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $18.42 billion, a P/E ratio of -3.45 and a beta of 1.86. The stock has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $12.53.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after acquiring an additional 133,781 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $1,363,000. Groupama Asset Managment acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at $26,600,000. SG Americas Securities LLC increased its position in Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after purchasing an additional 54,053 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Rivian Automotive during the 4th quarter worth about $10,448,000. Institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen initiated coverage on Rivian Automotive in a research report on Friday, March 7th. They issued a “hold” rating and a $12.70 target price for the company. Barclays lifted their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Piper Sandler downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $13.00 in a research report on Thursday, March 20th. Finally, Wells Fargo & Company cut their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.24.

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.