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

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rivian Automotive Trading Down 4.9 %

NASDAQ:RIVN opened at $14.21 on Thursday. The business’s 50-day moving average is $12.37 and its two-hundred day moving average is $13.03. The firm has a market capitalization of $14.50 billion, a PE ratio of -2.54 and a beta of 2.05. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $19.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RIVN shares. Needham & Company LLC cut their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark started coverage on Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday. The Goldman Sachs Group raised their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. 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 research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive in the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC boosted its stake in Rivian Automotive by 267.6% during 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 last quarter. Hantz Financial Services Inc. increased its position in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Rivian Automotive in the third quarter valued at about $44,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

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.