Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $97,766.56 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total value of $277,515.00.
• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The stock was sold at an average price of $12.20, for a total value of $98,783.40.

Rivian Automotive Stock Down 3.5 %

Rivian Automotive stock traded down $0.51 during trading on Wednesday, reaching $13.93. 28,690,248 shares of the company’s stock were exchanged, compared to its average volume of 32,959,371. The company’s 50-day moving average is $13.60 and its two-hundred day moving average is $12.53. 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 52-week low of $8.26 and a 52-week high of $18.85. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04.

Analyst Ratings Changes

RIVN has been the topic of several recent research reports. Barclays raised their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Piper Sandler cut their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada cut their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Sanford C. Bernstein began coverage on Rivian Automotive in a report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.13.

Institutional Trading of Rivian Automotive

A number of institutional investors have recently added to or reduced their stakes in the business. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at about $206,000. Neo Ivy Capital Management grew its stake in shares of Rivian Automotive by 23.8% during the fourth quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock valued at $2,097,000 after acquiring an additional 30,300 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at about $34,000. Elequin Capital LP acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at about $49,000. Finally, Valueworks LLC grew its stake in shares of Rivian Automotive by 17.1% during the fourth quarter. Valueworks LLC now owns 1,238,315 shares of the electric vehicle automaker’s stock valued at $16,470,000 after acquiring an additional 180,860 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

About Rivian Automotive

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.