Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells $97,766.56 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The stock was sold at an average price of $15.00, for a total value of $277,515.00.
• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The stock was sold at an average price of $12.20, for a total value of $98,783.40.

Rivian Automotive Stock Down 2.3 %

Shares of RIVN opened at $13.61 on Friday. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.85. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average of $13.59 and a 200-day moving average of $12.54.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 72.78% and a negative net margin of 121.38%. As a group, research analysts forecast that Rivian Automotive, Inc. will post -4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on 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 research note on Friday, November 8th. Sanford C. Bernstein assumed coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an “underperform” rating and a $6.10 target price on the stock. Benchmark assumed coverage on Rivian Automotive in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a research note on Monday, January 6th. Finally, Baird R W downgraded Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.13.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Parr Mcknight Wealth Management Group LLC bought a new position in Rivian Automotive during the 4th quarter worth $206,000. Neo Ivy Capital Management raised its position in Rivian Automotive by 23.8% during the 4th quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock worth $2,097,000 after purchasing an additional 30,300 shares during the last quarter. Orion Capital Management LLC bought a new position in Rivian Automotive during the 4th quarter worth $34,000. Elequin Capital LP bought a new position in Rivian Automotive during the 4th quarter worth $49,000. Finally, Valueworks LLC raised its position in Rivian Automotive by 17.1% during the 4th quarter. Valueworks LLC now owns 1,238,315 shares of the electric vehicle automaker’s stock worth $16,470,000 after purchasing an additional 180,860 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

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.