Robert J. Scaringe Sells 107,144 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 107,144 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total transaction of $1,633,946.00. Following the completion of the transaction, the chief executive officer now owns 1,483,111 shares of the company’s stock, valued at $22,617,442.75. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rivian Automotive Trading Up 3.0%

RIVN stock traded up $0.48 during trading on Monday, hitting $16.29. The company had a trading volume of 43,821,399 shares, compared to its average volume of 36,119,680. The firm has a 50-day moving average price of $12.39 and a 200-day moving average price of $12.53. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of -3.45 and a beta of 1.86. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $18.86. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share 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 company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RIVN. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price objective for the company. Guggenheim restated a “buy” rating and set a $16.00 price target on shares of Rivian Automotive in a report on Tuesday, May 6th. Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 18th. Wedbush cut their price objective on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus boosted their target price on shares of Rivian Automotive from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.24.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors have recently bought and sold shares of RIVN. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $25,000. PFS Partners LLC grew its holdings in shares of 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 acquiring an additional 1,882 shares in the last quarter. Banque Transatlantique SA increased its position in shares of Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 2,243 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive during the fourth quarter worth about $27,000. Finally, Orion Capital Management LLC acquired a new position in Rivian Automotive during the fourth quarter valued at approximately $34,000. Institutional investors own 66.25% of the company’s stock.

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.