Claire Mcdonough Sells 8,097 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of the sale, the chief financial officer now owns 370,401 shares in the company, valued at approximately $4,518,892.20. This trade represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30.

Rivian Automotive Price Performance

Shares of RIVN opened at $12.23 on Friday. The company has a 50 day moving average price of $10.67 and a 200-day moving average price of $12.46. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The stock has a market capitalization of $12.48 billion, a PE ratio of -2.18 and a beta of 2.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Analysts Set New Price Targets

RIVN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Piper Sandler cut their price target on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Truist Financial cut their price target on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.73.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in shares of Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after acquiring an additional 604 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Rivian Automotive by 30.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after acquiring an additional 670 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Rivian Automotive by 28.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock worth $47,000 after acquiring an additional 760 shares in the last quarter. Certuity LLC raised its stake in shares of Rivian Automotive by 8.1% during the 2nd quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after acquiring an additional 815 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its stake in shares of Rivian Automotive by 8.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker’s stock worth $136,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

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.