Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 9,937 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 9,937 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total value of $149,055.00. Following the completion of the sale, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. The trade was a 1.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, February 19th, Claire Mcdonough sold 6,856 shares of Rivian Automotive stock. The shares were sold at an average price of $14.26, for a total value of $97,766.56.

Rivian Automotive Stock Up 3.3%

RIVN opened at $15.81 on Friday. The business’s 50-day simple moving average is $12.39 and its 200-day simple moving average is $12.51. 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 one year low of $9.50 and a one year high of $18.86. The stock has a market capitalization of $17.88 billion, a P/E ratio of -3.35 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Rivian Automotive by 10.1% during the first quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after purchasing an additional 4,998 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Rivian Automotive by 131.0% during the first quarter. Great Lakes Advisors LLC now owns 856,193 shares of the electric vehicle automaker’s stock worth $10,660,000 after buying an additional 485,567 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Rivian Automotive during the first quarter worth about $1,053,000. PharVision Advisers LLC purchased a new position in shares of Rivian Automotive during the first quarter worth about $164,000. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of Rivian Automotive by 1.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 92,947 shares of the electric vehicle automaker’s stock worth $1,157,000 after buying an additional 1,647 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RIVN shares. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Rivian Automotive in a research report on Tuesday, March 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 7th. Bank of America lowered Rivian Automotive from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on Rivian Automotive from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird cut their price objective on Rivian Automotive from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.24.

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.