Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $98,783.40 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the sale, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $10.03, for a total transaction of $32,196.30.

Rivian Automotive Trading Up 0.1 %

Shares of NASDAQ:RIVN opened at $12.23 on Friday. The stock has a 50 day moving average of $10.67 and a 200 day moving average of $12.45. The company has a market cap of $12.48 billion, a PE ratio of -2.18 and a beta of 2.04. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Hedge Funds Weigh In On Rivian Automotive

A number of hedge funds have recently modified their holdings of RIVN. Quent Capital LLC raised its position in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 831 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 2,380 shares in the last quarter. GHP Investment Advisors Inc. grew its position 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 purchasing an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC grew its position in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RIVN has been the topic of several analyst reports. Needham & Company LLC dropped their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Barclays lowered their price objective on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lowered Rivian Automotive from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. UBS Group lowered their price target on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Guggenheim reduced their price objective on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities research 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, Rivian Automotive presently has an average rating of “Hold” and an average price target of $15.73.

About Rivian Automotive

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.