Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 18,501 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 18,501 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares of the company’s stock, valued at $5,278,500. This represents a 4.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $98,783.40.
• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30.

Rivian Automotive Trading Up 5.9 %

Shares of RIVN stock opened at $13.83 on Friday. The business’s fifty day moving average price is $11.44 and its 200 day moving average price is $12.76. The firm has a market capitalization of $14.12 billion, a PE ratio of -2.47 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently made changes to their positions in RIVN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the third quarter valued at about $28,000. GHP Investment Advisors Inc. increased its holdings in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares in the last quarter. American Capital Advisory LLC lifted 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. boosted its stake in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth approximately $37,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Mizuho reduced their target price on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. The Goldman Sachs Group raised their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Wolfe Research started coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Benchmark assumed coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. One equities research analyst has 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 data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and an average price target of $15.74.

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.