Key Points
- Rivian CFO Claire McDonough sold 8,023 shares at an average price of $16, generating $128,368. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving her with 819,178 shares.
- Rivian shares were up 6.0%, opening at $16.97. The company recently reported a quarterly loss of $0.47 per share, better than estimates, while revenue rose 27.2% year over year to $1.66 billion.
- Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $18.95; 12 analysts rate the stock Buy, eight Hold, and seven Sell.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 8,023 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer owned 819,178 shares of the company's stock, valued at approximately $13,106,848. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Claire Mcdonough also recently made the following trade(s):
- On Tuesday, August 18th, Claire Mcdonough sold 13,144 shares of Rivian Automotive stock. The shares were sold at an average price of $14.50, for a total transaction of $190,588.00.
- On Friday, May 29th, Claire Mcdonough sold 8,023 shares of Rivian Automotive stock. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00.
Rivian Automotive Stock Up 6.0%
Rivian Automotive stock opened at $16.97 on Friday. Rivian Automotive, Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $22.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.10. The firm's 50-day simple moving average is $16.48 and its 200 day simple moving average is $15.81. The stock has a market cap of $24.57 billion, a PE ratio of -6.58 and a beta of 1.61.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.19. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted ($0.97) EPS. The company's revenue for the quarter was up 27.2% on a year-over-year basis. Research analysts predict that Rivian Automotive, Inc. will post -2.98 EPS for the current fiscal year.
Hedge Funds Weigh In On Rivian Automotive
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Newbridge Financial Services Group Inc. raised its position in shares of Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 1,000 shares during the period. Core Wealth Advisors LLC bought a new position in Rivian Automotive in the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rivian Automotive in the 3rd quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new position in Rivian Automotive in the 4th quarter valued at approximately $33,000. Finally, Oslo Pensjonsforsikring AS purchased a new position in Rivian Automotive in the 1st quarter valued at approximately $39,000. Institutional investors own 66.25% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on RIVN shares. Jefferies Financial Group increased their price target on Rivian Automotive from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Tuesday, July 7th. UBS Group upped their price objective on Rivian Automotive from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. DA Davidson raised their target price on Rivian Automotive from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. TD Cowen lifted their target price on Rivian Automotive from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Piper Sandler raised shares of Rivian Automotive from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $18.00 to $20.00 in a report on Monday, July 27th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.95.
Check Out Our Latest Report on Rivian Automotive
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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