Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe Sells 107,144 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 107,144 shares of Rivian Automotive stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $15.25, for a total transaction of $1,633,946.00. Following the sale, the chief executive officer now owns 1,483,111 shares of the company’s stock, valued at $22,617,442.75. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rivian Automotive Trading Up 3.0%

Shares of NASDAQ RIVN traded up $0.48 on Monday, reaching $16.29. 43,821,399 shares of the company traded hands, compared to its average volume of 36,119,680. The company has a 50 day moving average of $12.39 and a 200 day moving average of $12.53. 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 fifty-two week low of $9.50 and a fifty-two week high of $18.86. The stock has a market capitalization of $18.42 billion, a PE ratio of -3.45 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Trading of Rivian Automotive

Several large investors have recently added to or reduced their stakes in the stock. Tandem Financial LLC purchased a new stake in Rivian Automotive during the 4th quarter worth $25,000. PFS Partners LLC increased its stake in Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,882 shares during the last quarter. Banque Transatlantique SA lifted its holdings in Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 2,243 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $27,000. Finally, Orion Capital Management LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $34,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIVN has been the subject of several research analyst reports. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Rivian Automotive in a report on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. UBS Group boosted their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Mizuho upped their price objective on Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has an average rating of “Hold” and a consensus target price 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.