Rivian Automotive (NASDAQ:RIVN) CEO Sells $263,669.50 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert Scaringe sold 17,450 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $15.11, for a total value of $263,669.50. Following the sale, the chief executive officer directly owned 1,185,009 shares of the company’s stock, valued at $17,905,485.99. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rivian Automotive Trading Up 4.3%

Rivian Automotive stock traded up $0.70 during mid-day trading on Friday, hitting $16.88. The company’s stock had a trading volume of 18,542,969 shares, compared to its average volume of 38,327,707. The company has a 50 day moving average of $14.40 and a 200-day moving average of $13.93. The stock has a market cap of $20.69 billion, a PE ratio of -5.43 and a beta of 1.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. Rivian Automotive, Inc. has a one year low of $10.36 and a one year high of $18.13.

Analysts Set New Price Targets

RIVN has been the topic of a number of research analyst reports. Cfra Research upgraded shares of Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Stifel Nicolaus upped their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Zacks Research raised shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Rivian Automotive in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group dropped their price objective on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.34.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased 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 valued at $323,000 after acquiring an additional 7,115 shares during the period. Centaurus Financial Inc. purchased a new position in Rivian Automotive in the third quarter valued at about $110,000. Coldstream Capital Management Inc. grew its stake 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 valued at $1,818,000 after purchasing an additional 69,754 shares during the last quarter. Danske Bank A S bought a new position in Rivian Automotive in the third quarter worth about $6,587,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Rivian Automotive during the third quarter valued at about $39,000. Institutional investors own 66.25% of the company’s stock.

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.