Key Points
- CEO Robert Scaringe sold 17,450 shares on December 23 at an average price of $21.43 for a total of $373,953.50, trimming his stake by 1.49% to 1,150,109 shares (disclosed in an SEC filing).
- Rivian beat recent quarterly estimates—EPS of ($0.65) vs. ($0.71) expected and revenue of $1.56 billion (up 78.3% YoY)—but remains unprofitable with a -61.34% net margin and negative return on equity.
- The company has a market cap of about $25.3 billion and a 52-week range of $10.36–$22.69; consensus analyst rating is "Hold" with a $15.73 target, though several firms have raised targets to roughly $25 and institutions own ~66.3% of shares.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 17,450 shares of the firm's stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $21.43, for a total transaction of $373,953.50. Following the completion of the sale, the chief executive officer directly owned 1,150,109 shares in the company, valued at $24,646,835.87. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Rivian Automotive Stock Performance
Shares of RIVN stock opened at $20.67 on Tuesday. 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 $25.34 billion, a price-to-earnings ratio of -6.65 and a beta of 1.79. Rivian Automotive, Inc. has a one year low of $10.36 and a one year high of $22.69. The company has a 50 day moving average price of $16.55 and a 200 day moving average price of $14.52.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $0.06. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned ($1.08) EPS. Rivian Automotive's revenue for the quarter was up 78.3% on a year-over-year basis. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.
Institutional Trading of Rivian Automotive
A number of hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc lifted its position in shares of Rivian Automotive by 5.2% during the third quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker's stock worth $232,000 after purchasing an additional 775 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Rivian Automotive by 7.7% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker's stock worth $160,000 after buying an additional 780 shares in the last quarter. Equitable Holdings Inc. lifted its holdings in Rivian Automotive by 5.8% in the 3rd quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker's stock worth $216,000 after buying an additional 803 shares in the last quarter. TD Asset Management Inc boosted its position in Rivian Automotive by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker's stock valued at $1,042,000 after buying an additional 870 shares during the last quarter. Finally, First National Trust Co grew its stake in shares of Rivian Automotive by 5.6% during the third quarter. First National Trust Co now owns 16,900 shares of the electric vehicle automaker's stock valued at $248,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on RIVN. Tigress Financial raised their price objective on Rivian Automotive from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, November 14th. Robert W. Baird upgraded shares of Rivian Automotive from a "neutral" rating to an "outperform" rating and raised their price target for the company from $14.00 to $25.00 in a report on Thursday, December 18th. Baird R W raised shares of Rivian Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, December 18th. Wall Street Zen raised shares of Rivian Automotive from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rivian Automotive in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and a consensus target price of $15.73.
Read Our Latest Analysis on Rivian Automotive
About Rivian Automotive
(
Get Free Report)
Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.
Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.
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