Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe Sells 71,429 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total transaction of $991,434.52. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,983,450.68. This represents a 7.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rivian Automotive Stock Down 0.1 %

RIVN opened at $14.04 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm’s fifty day moving average is $11.66 and its 200 day moving average is $12.82. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of -2.51 and a beta of 2.12. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.30.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RIVN shares. The Goldman Sachs Group boosted their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Piper Sandler lowered their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Barclays dropped 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. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reduced their price target 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. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.74.

Hedge Funds Weigh In On Rivian Automotive

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in shares of Rivian Automotive by 11.1% in the second quarter. Raymond James & Associates now owns 152,748 shares of the electric vehicle automaker’s stock worth $2,050,000 after buying an additional 15,252 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Rivian Automotive by 53.8% in the second quarter. Bank of New York Mellon Corp now owns 2,972,339 shares of the electric vehicle automaker’s stock worth $39,889,000 after buying an additional 1,039,758 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Rivian Automotive by 6.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 99,378 shares of the electric vehicle automaker’s stock valued at $1,334,000 after buying an additional 6,132 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Rivian Automotive by 67.3% during the 2nd quarter. HB Wealth Management LLC now owns 21,119 shares of the electric vehicle automaker’s stock worth $283,000 after acquiring an additional 8,493 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Rivian Automotive by 13.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 31,283 shares of the electric vehicle automaker’s stock valued at $420,000 after acquiring an additional 3,637 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

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.