Key Points
- Rivian CFO Claire Mcdonough sold 8,023 shares on May 29 at an average price of $16.00, totaling $128,368. The trade was made under a pre-arranged Rule 10b5-1 plan, leaving her with 887,007 shares.
- This was part of a broader pattern of recent insider selling by Mcdonough, who also sold shares on May 18 and April 22 for $74,455.92 and $184,410, respectively.
- Analysts remain mixed on Rivian, with an average rating of “Hold” and an average price target of $18.57. The stock was trading at $17.29, while institutional investors own 66.25% of the company.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 8,023 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the transaction, the chief financial officer owned 887,007 shares of the company's stock, valued at $14,192,112. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Claire Mcdonough also recently made the following trade(s):
- On Monday, May 18th, Claire Mcdonough sold 5,544 shares of Rivian Automotive stock. The stock was sold at an average price of $13.43, for a total value of $74,455.92.
- On Wednesday, April 22nd, Claire Mcdonough sold 10,245 shares of Rivian Automotive stock. The stock was sold at an average price of $18.00, for a total value of $184,410.00.
Rivian Automotive Price Performance
Rivian Automotive stock opened at $17.29 on Wednesday. The firm has a market capitalization of $21.46 billion, a P/E ratio of -5.92 and a beta of 1.62. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69. The business has a 50-day moving average of $15.29 and a 200-day moving average of $16.29. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on RIVN shares. Wedbush reiterated an "outperform" rating and set a $25.00 price objective on shares of Rivian Automotive in a report on Friday, February 13th. Stifel Nicolaus lifted their price objective on Rivian Automotive from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Weiss Ratings cut Rivian Automotive from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. TD Cowen upgraded Rivian Automotive from a "hold" rating to a "buy" rating and lifted their price objective for the company from $17.00 to $20.00 in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded Rivian Automotive from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $18.57.
Check Out Our Latest Stock Report on RIVN
Hedge Funds Weigh In On Rivian Automotive
Institutional investors have recently modified their holdings of the business. Danske Bank A S lifted its stake in Rivian Automotive by 36.8% in the 4th quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker's stock valued at $12,102,000 after acquiring an additional 165,300 shares in the last quarter. Trek Financial LLC bought a new stake in Rivian Automotive in the 4th quarter valued at approximately $6,115,000. New York State Common Retirement Fund lifted its stake in Rivian Automotive by 36.4% in the 3rd quarter. New York State Common Retirement Fund now owns 597,353 shares of the electric vehicle automaker's stock valued at $8,769,000 after acquiring an additional 159,400 shares in the last quarter. Swedbank AB lifted its stake in Rivian Automotive by 8.6% in the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker's stock valued at $18,553,000 after acquiring an additional 74,322 shares in the last quarter. Finally, DNB Asset Management AS lifted its stake in Rivian Automotive by 85.4% in the 3rd quarter. DNB Asset Management AS now owns 728,262 shares of the electric vehicle automaker's stock valued at $10,691,000 after acquiring an additional 335,511 shares in the last quarter. Institutional investors own 66.25% of the company's stock.
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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