Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough Sells 8,097 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,097 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the sale, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Claire Mcdonough also recently made the following trade(s):

• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30.

Rivian Automotive Stock Performance

Shares of RIVN opened at $12.23 on Monday. The firm has a market cap of $12.48 billion, a PE ratio of -2.18 and a beta of 2.04. The company’s 50 day simple moving average is $10.67 and its 200-day simple moving average is $12.48. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its holdings in shares of Rivian Automotive by 52.5% during the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock worth $565,012,000 after buying an additional 17,341,786 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Rivian Automotive by 153.2% in the 2nd quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after purchasing an additional 3,285,867 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Rivian Automotive by 102.8% during the second quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock worth $33,276,000 after purchasing an additional 1,257,106 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Rivian Automotive by 53.8% during the second quarter. Bank of New York Mellon Corp now owns 2,972,339 shares of the electric vehicle automaker’s stock worth $39,889,000 after purchasing an additional 1,039,758 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $13.00 in a report on Friday, November 8th. Robert W. Baird cut their target price on shares of Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Barclays dropped their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, Morgan Stanley lowered shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $13.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $15.73.

Rivian Automotive Company Profile

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.