Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough Sells 8,097 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,097 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 Performance

Shares of NASDAQ:RIVN opened at $12.23 on Friday. The company has a 50-day moving average price of $10.67 and a 200-day moving average price of $12.45. The company has a market cap of $12.48 billion, a price-to-earnings ratio of -2.18 and a beta of 2.04. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds have recently made changes to their positions in RIVN. Quent Capital LLC raised its stake 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 worth $26,000 after buying an additional 831 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the third quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Rivian Automotive by 975.4% during the 1st 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. grew its position in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the period. Finally, American Capital Advisory LLC increased its stake in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Mizuho cut their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler lowered their price objective on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a research note on Friday, November 8th. Finally, Royal Bank of Canada dropped their price target on 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. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and a consensus target price of $15.73.

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.