Insider Selling: Rivian Automotive (NASDAQ:RIVN) CEO Sells $869,010.00 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert Scaringe sold 52,350 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total value of $869,010.00. Following the transaction, the chief executive officer owned 1,246,405 shares of the company’s stock, valued at approximately $20,690,323. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rivian Automotive Stock Performance

RIVN stock opened at $15.11 on Friday. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -4.86 and a beta of 1.81. Rivian Automotive, Inc. has a twelve month low of $9.55 and a twelve month high of $18.13. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. The business’s fifty day simple moving average is $14.17 and its two-hundred day simple moving average is $13.83.

Analyst Ratings Changes

RIVN has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Rivian Automotive from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, October 20th. DA Davidson increased their price objective on Rivian Automotive from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Cfra Research upgraded Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group decreased their target price on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $14.30.

Institutional Trading of Rivian Automotive

A number of hedge funds have recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after acquiring an additional 1,357 shares in the last quarter. Banque Transatlantique SA lifted its stake in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 2,243 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. Mather Group LLC. purchased a new position in Rivian Automotive in the third quarter valued at about $30,000. Finally, Fairman Group LLC bought a new position in Rivian Automotive in the second quarter worth about $31,000. Hedge funds and other 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.