Claire Mcdonough Sells 8,023 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report) CFO Claire Mcdonough sold 8,023 shares of Rivian Automotive stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the transaction, the chief financial officer owned 819,178 shares of the company’s stock, valued at $13,106,848. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

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• On Tuesday, August 18th, Claire Mcdonough sold 13,144 shares of Rivian Automotive stock. The shares were sold at an average price of $14.50, for a total value of $190,588.00.
• On Friday, May 29th, Claire Mcdonough sold 8,023 shares of Rivian Automotive stock. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $16.97 on Friday. The stock has a market cap of $24.57 billion, a P/E ratio of -6.58 and a beta of 1.61. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average price is $16.48 and its two-hundred day moving average price is $15.81. Rivian Automotive, Inc. has a 52 week low of $12.16 and a 52 week high of $22.69.

Rivian Automotive (NASDAQ:RIVN – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.19. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned ($0.97) EPS. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. On average, equities analysts predict that Rivian Automotive, Inc. will post -2.98 earnings per share for the current year.

Institutional Trading of Rivian Automotive

Several hedge funds have recently added to or reduced their stakes in RIVN. Newbridge Financial Services Group Inc. increased its stake in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Core Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Rivian Automotive during the third quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in shares of Rivian Automotive in the fourth quarter worth approximately $33,000. Finally, Oslo Pensjonsforsikring AS bought a new position in shares of Rivian Automotive in the first quarter worth approximately $39,000. 66.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RIVN shares. DA Davidson boosted their price objective on shares of Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft cut shares of Rivian Automotive from a “buy” rating to an “underperform” rating in a research note on Tuesday, August 4th. UBS Group boosted their price target on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley increased their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group lifted their price objective on Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $18.95.

Check Out Our Latest Analysis on Rivian Automotive

Rivian Automotive Company Profile

(Get Free Report)

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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