Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report)’s stock price fell 2.2% on Monday following insider selling activity. The stock traded as low as $16.57 and last traded at $16.60. 21,370,101 shares were traded during mid-day trading, a decline of 30% from the average session volume of 30,668,604 shares. The stock had previously closed at $16.97.
Specifically, CFO Claire Mcdonough sold 8,023 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 13,144 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total transaction of $190,588.00. Following the completion of the transaction, the chief financial officer directly owned 827,201 shares in the company, valued at approximately $11,994,414.50. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Analysts Set New Price Targets
Several research firms recently issued reports on RIVN. DA Davidson lifted their price objective on Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $19.00 target price on shares of Rivian Automotive in a research note on Tuesday, July 28th. Weiss Ratings raised Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Wall Street Zen upgraded Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, TD Cowen boosted their price objective on Rivian Automotive from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.05.
Key Stories Impacting Rivian Automotive
Here are the key news stories impacting Rivian Automotive this week:
- Positive Sentiment: RIVN recently moved above both its 50-day and 200-day moving averages. Analysts view the breakouts as signs of improving short-term momentum and a potentially bullish longer-term trend. Rivian 50-Day Moving Average Article Rivian 200-Day Moving Average Article
- Positive Sentiment: Rivian’s raised delivery outlook and 27% year-over-year revenue growth have improved investor sentiment. The company’s recent earnings also exceeded revenue and adjusted-loss expectations, although analysts remain divided because of margin pressure and cash consumption. Rising Delivery Forecasts Article
- Positive Sentiment: Traders purchased 185,311 RIVN call options, about 43% above typical daily call volume. The activity indicates increased speculative interest and potentially bullish positioning, though options flow is not a guarantee of future performance.
- Neutral Sentiment: Industry forecasts call for the global EV-charging market to expand rapidly through 2033. Rivian’s participation in proprietary and partner charging ecosystems could benefit from that growth, but the projection is a broad industry catalyst rather than a direct company-specific announcement. EV Charging Station Market Article
- Negative Sentiment: Chief Financial Officer Claire McDonough sold shares representing roughly 1% of her direct holdings. The transaction occurred under a Rule 10b5-1 plan adopted last September, and she retains approximately 819,000 shares, reducing the likelihood that the sale reflects a negative view of Rivian’s outlook. Rivian CFO Share Sale Article
Rivian Automotive Trading Down 2.2%
The firm has a market cap of $24.03 billion, a P/E ratio of -6.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.10 and a quick ratio of 1.65. The stock has a 50 day moving average of $16.48 and a 200 day moving average of $15.82.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.19. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.52 billion. Rivian Automotive had a negative return on equity of 73.90% and a negative net margin of 54.96%.The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.97) earnings per share. As a group, equities research analysts predict that Rivian Automotive, Inc. will post -2.98 EPS for the current year.
Hedge Funds Weigh In On Rivian Automotive
Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in Rivian Automotive by 1,696.5% in the 2nd quarter. California State Teachers Retirement System now owns 22,267,094 shares of the electric vehicle automaker’s stock worth $386,334,000 after purchasing an additional 21,027,647 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Rivian Automotive during the second quarter valued at about $109,000. Saudi Central Bank grew its stake in shares of Rivian Automotive by 92.0% during the second quarter. Saudi Central Bank now owns 56,287 shares of the electric vehicle automaker’s stock valued at $977,000 after buying an additional 26,968 shares during the last quarter. AlphaGrep UK Ltd bought a new position in shares of Rivian Automotive during the second quarter valued at about $184,000. Finally, Odyssean LLC increased its holdings in shares of Rivian Automotive by 97.2% in the second quarter. Odyssean LLC now owns 110,259 shares of the electric vehicle automaker’s stock worth $1,913,000 after buying an additional 54,343 shares during the period. Institutional investors own 66.25% of the company’s stock.
About Rivian Automotive
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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