Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $975,005.85 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,784,877.65. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rivian Automotive Trading Up 6.8 %

RIVN traded up $0.97 on Monday, reaching $15.34. 55,926,380 shares of the company’s stock were exchanged, compared to its average volume of 40,025,484. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The company’s 50 day moving average is $11.18 and its 200-day moving average is $12.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a market cap of $15.66 billion, a price-to-earnings ratio of -2.74 and a beta of 2.12.

Institutional Trading of Rivian Automotive

Institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. raised its holdings in shares of 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 acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC grew its position in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive in the second quarter valued at about $37,000. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th. Stifel Nicolaus cut their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Morgan Stanley cut Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 25th. Finally, Guggenheim dropped their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.83.

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.