Key Points
- Rivian CEO Robert Scaringe sold 17,450 shares on December 9 at an average price of $17.53 for about $305,898.50, reducing his stake by 1.47% to 1,167,559 shares valued at roughly $20.47 million.
- The stock carries a consensus analyst rating of Hold with a consensus price target of $14.73, based on 6 Buys, 15 Holds and 6 Sells.
- Key fundamentals: market capitalization ~ $20.14 billion, negative P/E (-5.28), one‑year trading range $10.36–$18.60, and 50/200‑day moving averages of $14.87 and $14.05 respectively.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 17,450 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $17.53, for a total transaction of $305,898.50. Following the transaction, the chief executive officer owned 1,167,559 shares in the company, valued at approximately $20,467,309.27. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Rivian Automotive Stock Performance
Shares of RIVN stock opened at $16.43 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of -5.28 and a beta of 1.79. Rivian Automotive, Inc. has a one year low of $10.36 and a one year high of $18.60. The company has a 50 day moving average price of $14.87 and a 200 day moving average price of $14.05.
Analyst Ratings Changes
A number of analysts have recently commented on RIVN shares. Cfra Research upgraded Rivian Automotive to a "moderate sell" rating in a report on Thursday, October 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Rivian Automotive in a research note on Wednesday, October 8th. Mizuho reaffirmed an "underperform" rating and issued a $10.00 price objective (down from $14.00) on shares of Rivian Automotive in a research note on Monday, October 20th. Stifel Nicolaus boosted their target price on Rivian Automotive from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, November 17th. Finally, Zacks Research upgraded shares of Rivian Automotive from a "strong sell" rating to a "hold" rating in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and a consensus price target of $14.73.
View Our Latest Report on RIVN
Institutional Investors Weigh In On Rivian Automotive
A number of large investors have recently modified their holdings of RIVN. Brighton Jones LLC lifted its position in Rivian Automotive by 28.0% during the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock worth $235,000 after acquiring an additional 3,864 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Rivian Automotive by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 50,873 shares of the electric vehicle automaker's stock valued at $633,000 after purchasing an additional 5,074 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rivian Automotive by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,050,788 shares of the electric vehicle automaker's stock worth $62,882,000 after purchasing an additional 309,787 shares in the last quarter. Swiss National Bank lifted its position in shares of Rivian Automotive by 1.1% during the first quarter. Swiss National Bank now owns 2,142,200 shares of the electric vehicle automaker's stock worth $26,670,000 after purchasing an additional 22,600 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of Rivian Automotive in the first quarter valued at $2,027,000. Institutional investors and hedge funds own 66.25% of the company's stock.
About Rivian Automotive
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
