Key Points
- Rivian CEO Robert Scaringe sold 17,450 shares on Jan. 20 at an average price of $16.03 for roughly $279,723, trimming his stake by 1.54% to 1,115,209 shares.
- Rivian posted quarterly revenue of $1.56B (up 78%) and an EPS loss of ($0.65) that beat estimates, but analysts are mixed—average rating "Hold" with an average price target of $16.23.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 17,450 shares of the company's stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $16.03, for a total transaction of $279,723.50. Following the transaction, the chief executive officer owned 1,115,209 shares in the company, valued at $17,876,800.27. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Rivian Automotive Stock Performance
Shares of Rivian Automotive stock opened at $16.32 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. The firm has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $15.12. Rivian Automotive, Inc. has a fifty-two week low of $10.36 and a fifty-two week high of $22.69. The firm has a market cap of $20.01 billion, a P/E ratio of -5.25 and a beta of 1.77.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The business's revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.08) EPS. Sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.
Analysts Set New Price Targets
RIVN has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on Rivian Automotive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rivian Automotive in a research note on Wednesday, October 8th. Wedbush lifted their price target on shares of Rivian Automotive from $16.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, December 19th. Evercore ISI restated an "outperform" rating on shares of Rivian Automotive in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Rivian Automotive from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Monday, October 20th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, Rivian Automotive currently has an average rating of "Hold" and an average price target of $16.23.
View Our Latest Analysis on Rivian Automotive
Hedge Funds Weigh In On Rivian Automotive
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Rivian Automotive by 15.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker's stock worth $80,376,000 after acquiring an additional 799,030 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Rivian Automotive in the second quarter valued at about $1,324,000. Farther Finance Advisors LLC lifted its stake in shares of Rivian Automotive by 227.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 117,096 shares of the electric vehicle automaker's stock worth $1,719,000 after buying an additional 81,291 shares during the last quarter. Tableaux LLC bought a new stake in shares of Rivian Automotive during the 2nd quarter worth about $3,435,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Rivian Automotive by 211.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 265,600 shares of the electric vehicle automaker's stock valued at $3,899,000 after acquiring an additional 180,200 shares during the period. 66.25% of the stock is owned by institutional investors.
Rivian Automotive Company Profile
(
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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