Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $15.74 Average PT from Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have earned a consensus recommendation of “Hold” from the twenty-five ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.48.

Several analysts have issued reports on RIVN shares. Barclays dropped their target price on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Mizuho cut their target price on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Benchmark started coverage on shares of Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reduced their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated 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 transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,429 shares of company stock valued at $4,467,450. 2.51% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after purchasing an additional 2,035,831 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after buying an additional 124,950 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after buying an additional 120,544 shares in the last quarter. Finally, Renaissance Capital LLC raised its position in shares of Rivian Automotive by 20.0% in the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock worth $9,958,000 after acquiring an additional 148,197 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $14.21 on Friday. The company has a market cap of $14.50 billion, a PE ratio of -2.54 and a beta of 2.05. The firm’s 50 day moving average price is $12.37 and its 200-day moving average price is $13.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $19.76.

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.