Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough Sells 18,501 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40.
• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The stock was sold at an average price of $10.03, for a total value of $32,196.30.

Rivian Automotive Stock Down 11.2 %

RIVN stock opened at $13.06 on Thursday. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61. The firm has a fifty day moving average price of $11.32 and a two-hundred day moving average price of $12.74. 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 cap of $13.33 billion, a price-to-earnings ratio of -2.33 and a beta of 2.12.

Analysts Set New Price Targets

A number of analysts have commented on RIVN shares. Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $16.00 to $13.00 in a research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th. Benchmark assumed coverage on Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Piper Sandler lowered their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.74.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Rivian Automotive by 1.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after purchasing an additional 604 shares during the last quarter. Blue Trust Inc. lifted its stake in Rivian Automotive by 39.0% in the second quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock valued at $43,000 after buying an additional 907 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rivian Automotive by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,585,592 shares of the electric vehicle automaker’s stock valued at $21,279,000 after acquiring an additional 33,276 shares during the period. Raymond James & Associates grew its position in shares of Rivian Automotive by 11.1% during the second quarter. Raymond James & Associates now owns 152,748 shares of the electric vehicle automaker’s stock worth $2,050,000 after acquiring an additional 15,252 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Rivian Automotive by 462.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 185,700 shares of the electric vehicle automaker’s stock worth $2,492,000 after acquiring an additional 152,700 shares during the period. 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.