Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough Sells 6,856 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 value of $98,783.40.

Rivian Automotive Stock Down 3.5 %

Shares of NASDAQ RIVN opened at $13.93 on Thursday. The business has a 50-day moving average of $13.60 and a two-hundred day moving average of $12.53. The company has a market capitalization of $14.22 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently made changes to their positions in RIVN. Creative Planning increased its stake in Rivian Automotive by 6.7% in the third quarter. Creative Planning now owns 115,686 shares of the electric vehicle automaker’s stock valued at $1,298,000 after purchasing an additional 7,236 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Rivian Automotive in the 3rd quarter valued at $310,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Rivian Automotive by 55.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,764 shares of the electric vehicle automaker’s stock valued at $828,000 after buying an additional 26,374 shares during the last quarter. Blue Trust Inc. raised its stake in Rivian Automotive by 40.3% during the 3rd quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock worth $51,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Rivian Automotive in the third quarter valued at $112,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RIVN shares. The Goldman Sachs Group increased their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada lowered their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Barclays boosted their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Finally, Sanford C. Bernstein began coverage on Rivian Automotive in a research report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has a consensus rating of “Hold” and an average target price of $15.13.

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.