Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $1,155,006.93 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $14.21 on Thursday. The firm has a market capitalization of $14.50 billion, a PE ratio of -2.54 and a beta of 2.05. 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 1 year low of $8.26 and a 1 year high of $19.76. The firm’s fifty day simple moving average is $12.37 and its 200 day simple moving average is $13.03.

Analyst Ratings Changes

A number of analysts have recently commented on RIVN shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Rivian Automotive in a research note on Monday. Stifel Nicolaus reduced their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Needham & Company LLC decreased their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Truist Financial restated a “hold” rating and set a $12.00 price target on shares of Rivian Automotive in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.48.

Institutional Investors Weigh In On Rivian Automotive

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

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.