Robert Scaringe Sells 17,450 Shares of Rivian Automotive (NASDAQ:RIVN) 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, December 9th. The shares were sold at an average price of $17.53, for a total transaction of $305,898.50. Following the completion of the sale, the chief executive officer owned 1,167,559 shares in the company, valued at approximately $20,467,309.27. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Rivian Automotive Price Performance

RIVN stock opened at $18.42 on Friday. The company has a 50 day simple moving average of $14.97 and a 200 day simple moving average of $14.07. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of -5.92 and a beta of 1.79. Rivian Automotive, Inc. has a 1 year low of $10.36 and a 1 year high of $19.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23.

Wall Street Analyst Weigh In

RIVN has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. DA Davidson boosted their price objective on Rivian Automotive from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Needham & Company LLC upped their target price on Rivian Automotive from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 target price on shares of Rivian Automotive in a research report on Monday, December 8th. Finally, Mizuho restated an “underperform” rating and set a $10.00 price target (down from $14.00) on shares of Rivian Automotive in a report on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.86.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors have recently made changes to their positions in the stock. Prospera Financial Services Inc grew its holdings in Rivian Automotive by 5.2% during the 3rd quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock valued at $232,000 after buying an additional 775 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in shares of Rivian Automotive by 7.7% in the third quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock worth $160,000 after buying an additional 780 shares in the last quarter. Equitable Holdings Inc. boosted its position in shares of Rivian Automotive by 5.8% in the third quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock valued at $216,000 after acquiring an additional 803 shares during the period. TD Asset Management Inc grew its stake in Rivian Automotive by 1.2% during the second quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker’s stock valued at $1,042,000 after acquiring an additional 870 shares in the last quarter. Finally, First National Trust Co grew its stake in Rivian Automotive by 5.6% during the third quarter. First National Trust Co now owns 16,900 shares of the electric vehicle automaker’s stock valued at $248,000 after acquiring an additional 900 shares in the last quarter. 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.