Rivian Automotive (NASDAQ:RIVN) CEO Sells $341,147.50 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) CEO Robert Scaringe sold 17,450 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $19.55, for a total value of $341,147.50. Following the transaction, the chief executive officer owned 1,132,659 shares in the company, valued at approximately $22,143,483.45. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rivian Automotive Stock Down 0.8%

NASDAQ:RIVN traded down $0.17 on Thursday, reaching $19.89. The stock had a trading volume of 36,610,072 shares, compared to its average volume of 37,435,781. The company has a 50-day moving average of $17.45 and a 200 day moving average of $14.81. 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 stock has a market cap of $24.38 billion, a P/E ratio of -6.40 and a beta of 1.77. Rivian Automotive, Inc. has a 12-month low of $10.36 and a 12-month high of $22.69.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIVN. Wedbush upped their price target on shares of Rivian Automotive from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Robert W. Baird raised shares of Rivian Automotive from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $25.00 in a research report on Thursday, December 18th. Tigress Financial upped their target price on shares of Rivian Automotive from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Mizuho reiterated an “underperform” rating and issued a $10.00 price target (down from $14.00) on shares of Rivian Automotive in a research note on Monday, October 20th. Finally, Evercore ISI reissued an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Rivian Automotive has an average rating of “Hold” and an average price target of $15.95.

Check Out Our Latest Research Report on Rivian Automotive

Key Stories Impacting Rivian Automotive

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Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently made changes to their positions in RIVN. Vanguard Group Inc. lifted its holdings in shares of Rivian Automotive by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock worth $1,198,967,000 after purchasing an additional 2,597,310 shares during the last quarter. Capital International Investors increased its position in Rivian Automotive by 13.4% in the third quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock worth $269,395,000 after buying an additional 2,161,394 shares during the period. Geode Capital Management LLC lifted its stake in Rivian Automotive by 4.9% in the second quarter. Geode Capital Management LLC now owns 14,614,204 shares of the electric vehicle automaker’s stock valued at $200,200,000 after buying an additional 689,045 shares during the last quarter. Soma Equity Partners LP lifted its stake in Rivian Automotive by 9.9% in the third quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker’s stock valued at $135,126,000 after buying an additional 829,782 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Rivian Automotive during the second quarter valued at $105,629,000. 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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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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