Key Points
- CEO Robert Scaringe sold 34,818 Rivian shares on May 28 at an average price of $15.00, totaling about $522,270. After the sale, he still owned 922,286 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Rivian’s stock is drawing mixed analyst sentiment, with an average Wall Street rating of “Hold” and an average price target of $18.57. Analysts currently include 12 Buy ratings, 9 Hold ratings, and 6 Sell ratings.
- Investors are watching both growth catalysts and legal risk: enthusiasm around the upcoming R2 launch and software revenue is helping sentiment, but Rivian is also facing an NHTSA probe into nearly 115,000 vehicles over a possible rear suspension defect.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 34,818 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the transaction, the chief executive officer owned 922,286 shares in the company, valued at approximately $13,834,290. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rivian Automotive Price Performance
NASDAQ RIVN opened at $16.30 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The firm's 50 day moving average price is $15.28 and its 200-day moving average price is $16.30. Rivian Automotive, Inc. has a 52-week low of $11.57 and a 52-week high of $22.69. The company has a market cap of $20.23 billion, a PE ratio of -5.58 and a beta of 1.64.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on RIVN shares. Tigress Financial reiterated a "buy" rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, April 10th. Wall Street Zen upgraded shares of Rivian Automotive from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Cantor Fitzgerald lifted their price objective on shares of Rivian Automotive from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Wells Fargo & Company lifted their price objective on shares of Rivian Automotive from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Finally, Piper Sandler decreased their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.57.
Read Our Latest Report on RIVN
Institutional Trading of Rivian Automotive
Institutional investors and hedge funds have recently modified their holdings of the stock. Core Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $27,000. SOA Wealth Advisors LLC. increased its stake in shares of Rivian Automotive by 894.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker's stock worth $31,000 after purchasing an additional 1,395 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Rivian Automotive during the fourth quarter worth about $33,000. Glass Jacobson Investment Advisors llc boosted its position in Rivian Automotive by 96.3% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker's stock worth $34,000 after acquiring an additional 852 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock worth $26,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.
Trending Headlines about Rivian Automotive
Here are the key news stories impacting Rivian Automotive this week:
- Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
- Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What's Driving The Move?
- Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
- Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models
Rivian Automotive Company Profile
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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.
Further Reading
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