Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $277,515.00 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. The trade was a 4.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40.
• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The shares were sold at an average price of $10.03, for a total value of $32,196.30.

Rivian Automotive Stock Down 11.2 %

Shares of NASDAQ RIVN traded down $1.64 during midday trading on Wednesday, hitting $13.06. The company’s stock had a trading volume of 56,486,289 shares, compared to its average volume of 40,056,395. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of -2.33 and a beta of 2.12. The business’s fifty day simple moving average is $11.26 and its two-hundred day simple moving average is $12.74. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.61.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RIVN shares. Royal Bank of Canada decreased their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Benchmark began coverage on Rivian Automotive in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Wells Fargo & Company reduced their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Cantor Fitzgerald restated an “overweight” rating and set a $19.00 target price on shares of Rivian Automotive in a report on Monday, September 30th. Finally, The Goldman Sachs Group increased their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.74.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive in the third quarter valued at $28,000. GHP Investment Advisors Inc. lifted its stake in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Rivian Automotive in the second quarter valued at approximately $37,000. First Horizon Advisors Inc. increased its stake in Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after purchasing an additional 670 shares during the last quarter. Finally, American Capital Advisory LLC raised its holdings in Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

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.