Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $97,766.56 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. 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 Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00.
• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40.

Rivian Automotive Stock Down 4.7 %

Rivian Automotive stock opened at $12.97 on Friday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The company has a fifty day simple moving average of $13.56 and a 200 day simple moving average of $12.53. The company has a market cap of $13.24 billion, a P/E ratio of -2.32 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 72.78% and a negative net margin of 121.38%. Research analysts anticipate that Rivian Automotive, Inc. will post -4.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on RIVN. Guggenheim lowered their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC upped their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $13.00 in a research report on Friday, November 8th. Finally, Barclays raised their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in shares of Rivian Automotive by 52.5% in the 3rd quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after buying an additional 17,341,786 shares during the last quarter. Capital International Investors bought a new stake in Rivian Automotive during the fourth quarter worth $144,030,000. Norges Bank acquired a new stake in Rivian Automotive in the fourth quarter valued at $123,308,000. Northern Trust Corp lifted its stake in Rivian Automotive by 68.5% in the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker’s stock valued at $96,275,000 after acquiring an additional 2,941,928 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in shares of Rivian Automotive in the 4th quarter valued at about $29,944,000. 66.25% of the stock is currently owned by institutional investors.

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.