Peter Krawiec Sells 3,655 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) Director Peter Krawiec sold 3,655 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the completion of the sale, the director directly owned 29,122 shares of the company’s stock, valued at approximately $566,422.90. The trade was a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rivian Automotive Price Performance

Shares of RIVN opened at $20.28 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $15.40 and its 200 day simple moving average is $14.17. Rivian Automotive, Inc. has a 1-year low of $10.36 and a 1-year high of $20.33. The company has a market cap of $24.86 billion, a price-to-earnings ratio of -6.52 and a beta of 1.79.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.06. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.08) earnings per share. On average, research analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Rivian Automotive by 315.6% during the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock worth $25,000 after buying an additional 1,357 shares in the last quarter. Banque Transatlantique SA increased its position in Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 2,243 shares during the period. Newbridge Financial Services Group Inc. increased 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 period. Mather Group LLC. acquired a new stake in Rivian Automotive in the 3rd quarter worth about $30,000. Finally, Fairman Group LLC bought a new stake in Rivian Automotive in the 2nd quarter valued at about $31,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RIVN shares. Baird R W raised Rivian Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley reissued an “underweight” rating and set a $12.00 target price on shares of Rivian Automotive in a report on Monday, December 8th. DA Davidson increased their price target on Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Rivian Automotive from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.34.

About Rivian Automotive

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.