Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $1,155,006.93 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $13.85 on Friday. 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 firm has a market capitalization of $14.14 billion, a PE ratio of -2.47 and a beta of 2.05. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $19.12. The business’s fifty day moving average price is $12.53 and its two-hundred day moving average price is $13.05.

Institutional Trading of Rivian Automotive

Large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive in the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. grew its holdings in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased its position in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. raised its stake in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Rivian Automotive during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIVN shares. JPMorgan Chase & Co. decreased their target price on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Needham & Company LLC dropped their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus reduced their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Bank of America cut Rivian Automotive from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $13.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.48.

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.