Robert J. Scaringe Sells 83,333 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at $10,319,162.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rivian Automotive Stock Up 1.3 %

Shares of RIVN opened at $11.17 on Friday. The stock’s 50-day moving average price is $14.01 and its two-hundred day moving average price is $12.32. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.87. The company has a market capitalization of $11.12 billion, a PE ratio of -1.94 and a beta of 2.06. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, analysts anticipate that Rivian Automotive, Inc. will post -4.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RIVN shares. Wolfe Research assumed coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Mizuho boosted their price target on Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Barclays raised their price objective on Rivian Automotive from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Canaccord Genuity Group boosted their target price on Rivian Automotive from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 price target on shares of Rivian Automotive in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and a consensus price target of $17.91.

Get Our Latest Research Report on Rivian Automotive

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RIVN. Price T Rowe Associates Inc. MD boosted its position in Rivian Automotive by 35.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after acquiring an additional 25,550,489 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Rivian Automotive by 714.3% in the 1st quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock valued at $277,046,000 after purchasing an additional 22,194,018 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rivian Automotive by 1,521.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after purchasing an additional 5,937,605 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rivian Automotive by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after purchasing an additional 4,467,881 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Rivian Automotive by 153.2% in the second quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after buying an additional 3,285,867 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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