Rivian Automotive (NASDAQ:RIVN) Director Peter Krawiec Sells 3,655 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) Director Peter Krawiec sold 3,655 shares of Rivian Automotive stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $19.45, for a total transaction of $71,089.75. Following the completion of the transaction, the director owned 29,122 shares of the company’s stock, valued at $566,422.90. This trade represents a 11.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rivian Automotive Stock Down 1.5%

Rivian Automotive stock traded down $0.27 during mid-day trading on Wednesday, reaching $17.63. 31,940,167 shares of the company’s stock were exchanged, compared to its average volume of 43,832,252. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. Rivian Automotive, Inc. has a twelve month low of $10.36 and a twelve month high of $19.60. The company has a market cap of $21.61 billion, a P/E ratio of -5.67 and a beta of 1.79. The company has a fifty day moving average of $15.26 and a 200-day moving average of $14.13.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.06. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.08) earnings per share. Sell-side analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RIVN. UBS Group upped their price target on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Evercore ISI restated an “outperform” rating on shares of Rivian Automotive in a research note on Monday. Zacks Research upgraded shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Cfra Research upgraded shares of Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Rivian Automotive in the second quarter valued at $105,629,000. Vanguard Group Inc. increased its position in shares of Rivian Automotive by 3.3% during the third quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock worth $1,198,967,000 after purchasing an additional 2,597,310 shares in the last quarter. Capital International Investors lifted its holdings in shares of Rivian Automotive by 13.4% in the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock valued at $269,395,000 after purchasing an additional 2,161,394 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Rivian Automotive by 496.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock valued at $31,490,000 after purchasing an additional 1,918,852 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in Rivian Automotive by 1,353.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock worth $28,281,000 after buying an additional 1,916,686 shares during the last quarter. 66.25% of the stock is owned by hedge funds and other 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.