Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $149,055.00 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 9,937 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the sale, the chief financial officer now owns 851,637 shares in the company, valued at $12,774,555. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, February 19th, Claire Mcdonough sold 6,856 shares of Rivian Automotive stock. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56.

Rivian Automotive Trading Up 3.3%

Rivian Automotive stock opened at $15.81 on Friday. Rivian Automotive, Inc. has a 12-month low of $9.50 and a 12-month high of $18.86. 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 stock has a market capitalization of $17.88 billion, a PE ratio of -3.35 and a beta of 1.86. The firm has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $12.50.

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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, equities research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Rivian Automotive

Several large investors have recently made changes to their positions in the business. Capital International Investors acquired a new stake in Rivian Automotive during the fourth quarter valued at approximately $144,030,000. Norges Bank acquired a new stake in shares of Rivian Automotive during the 4th quarter valued at $123,308,000. Vanguard Group Inc. boosted its stake in shares of Rivian Automotive by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker’s stock worth $959,804,000 after acquiring an additional 5,610,688 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rivian Automotive by 68.5% in the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker’s stock worth $96,275,000 after acquiring an additional 2,941,928 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Rivian Automotive during the first quarter worth $33,582,000. Institutional investors own 66.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Rivian Automotive from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Piper Sandler cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $13.00 in a research report on Thursday, March 20th. TD Cowen initiated coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a “hold” rating and a $12.70 price target for the company. Cowen initiated coverage on Rivian Automotive in a report on Thursday, March 6th. They set a “hold” rating on the stock. Finally, Wedbush reduced their price objective on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and a consensus price target of $14.24.

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.