Robert J. Scaringe Sells 71,429 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rivian Automotive Stock Performance

Shares of RIVN stock traded down $0.74 on Wednesday, reaching $14.21. The stock had a trading volume of 32,959,061 shares, compared to its average volume of 56,455,809. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $19.76. The stock has a market cap of $14.50 billion, a P/E ratio of -2.54 and a beta of 2.05. The company has a 50 day simple moving average of $12.37 and a 200 day simple moving average of $13.03.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RIVN. Morgan Stanley downgraded shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Wednesday, September 25th. Wells Fargo & Company dropped their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. Finally, Stifel Nicolaus decreased their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and an average price target of $15.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive in the third quarter worth approximately $28,000. GHP Investment Advisors Inc. boosted its stake in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC grew its position in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Rivian Automotive in the 3rd quarter worth $44,000. 66.25% of the stock is 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.