Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe Sells 35,713 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $12.49 on Friday. The company has a fifty day moving average of $13.09 and a two-hundred day moving average of $13.03. 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 quick ratio of 3.70 and a current ratio of 5.09.

Institutional Trading of Rivian Automotive

A number of large investors have recently made changes to their positions in RIVN. Charles Schwab Investment Management Inc. lifted its stake in Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after acquiring an additional 51,464 shares during the period. Mizuho Markets Americas LLC raised its position in Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after purchasing an additional 124,950 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Rivian Automotive by 543.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after purchasing an additional 120,544 shares during the period. Finally, Renaissance Capital LLC boosted its stake in Rivian Automotive by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock worth $9,958,000 after purchasing an additional 148,197 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIVN has been the topic of several research reports. Benchmark began coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Rivian Automotive in a research note on Monday, January 6th. The Goldman Sachs Group increased their price objective on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird reissued a “neutral” rating and set a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and an average target price of $15.52.

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.