Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $491,410.88 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded down $0.20 during mid-day trading on Thursday, reaching $12.49. 39,005,799 shares of the stock traded hands, compared to its average volume of 43,966,473. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $13.09 and a 200 day moving average of $13.03. The stock has a market capitalization of $12.75 billion, a PE ratio of -2.23 and a beta of 2.05. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the third quarter worth approximately $28,000. GHP Investment Advisors Inc. raised its position in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares during the period. American Capital Advisory LLC lifted its holdings in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. grew its position in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Rivian Automotive during the third quarter worth $44,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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. Mizuho dropped their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Guggenheim reduced their price objective on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Truist Financial upped their target price on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.