Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $98,783.40 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40. Following the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Claire Mcdonough also recently made the following trade(s):

• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30.

Rivian Automotive Stock Performance

NASDAQ RIVN traded up $0.01 on Friday, reaching $12.23. 26,167,951 shares of the company’s stock traded hands, compared to its average volume of 39,964,527. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of -2.20 and a beta of 2.04. The stock has a 50 day moving average price of $10.66 and a 200-day moving average price of $12.44. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Analysts Set New Price Targets

Several brokerages recently issued reports on RIVN. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $19.00 target price on shares of Rivian Automotive in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered 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. 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. Finally, Stifel Nicolaus lowered their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC increased its holdings in Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 831 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive in the third quarter valued at $28,000. EverSource Wealth Advisors LLC increased its holdings in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 2,380 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC increased its stake in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

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.