Insider Selling: Rivian Automotive (NASDAQ:RIVN) Director Sells 3,655 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) Director Peter Krawiec sold 3,655 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the completion of the transaction, the director directly owned 29,122 shares in the company, valued at approximately $566,422.90. The trade was a 11.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded down $0.27 during mid-day trading on Wednesday, hitting $17.63. 31,940,167 shares of the company were exchanged, compared to its average volume of 43,832,252. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of -5.67 and a beta of 1.79. The stock has a 50 day simple moving average of $15.26 and a 200-day simple moving average of $14.13. Rivian Automotive, Inc. has a 1-year low of $10.36 and a 1-year high of $19.60.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.06. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the business earned ($1.08) EPS. The business’s revenue was up 78.3% on a year-over-year basis. On average, sell-side analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on RIVN. Canaccord Genuity Group reiterated a “buy” rating on shares of Rivian Automotive in a research report on Monday. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Evercore ISI reissued an “outperform” rating on shares of Rivian Automotive in a report on Monday. Zacks Research upgraded shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Rivian Automotive from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average price target of $14.86.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Rivian Automotive by 3.3% in the third quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock valued at $1,198,967,000 after purchasing an additional 2,597,310 shares in the last quarter. Capital International Investors raised its position in shares of Rivian Automotive by 13.4% during the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock worth $269,395,000 after purchasing an additional 2,161,394 shares during the last quarter. Geode Capital Management LLC lifted its stake in Rivian Automotive by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 14,614,204 shares of the electric vehicle automaker’s stock valued at $200,200,000 after buying an additional 689,045 shares in the last quarter. Soma Equity Partners LP grew its holdings in Rivian Automotive by 9.9% during the 3rd quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker’s stock valued at $135,126,000 after buying an additional 829,782 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Rivian Automotive by 11.2% during the 1st quarter. Northern Trust Corp now owns 8,047,760 shares of the electric vehicle automaker’s stock valued at $100,195,000 after buying an additional 809,064 shares during the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

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.