Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $409,270.98 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the transaction, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $9,775,506.06. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $12.62 on Friday. The stock has a market cap of $14.27 billion, a PE ratio of -2.67 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm has a 50-day moving average of $11.71 and a 200-day moving average of $12.11. Rivian Automotive, Inc. has a 52-week low of $8.50 and a 52-week high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Bank of America cut shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Mizuho cut their price objective on shares of Rivian Automotive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Truist Financial increased their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.08.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the company. Tandem Financial LLC bought a new position in Rivian Automotive during the 4th quarter worth $25,000. PFS Partners LLC boosted its holdings in Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,882 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the third quarter worth approximately $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $34,000. 66.25% of the stock is currently owned by 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.