Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Sells 18,501 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The stock was sold at an average price of $12.20, for a total value of $98,783.40.
• On Monday, November 18th, Claire Mcdonough sold 3,210 shares of Rivian Automotive stock. The shares were sold at an average price of $10.03, for a total value of $32,196.30.

Rivian Automotive Trading Down 11.2 %

NASDAQ RIVN traded down $1.64 during mid-day trading on Wednesday, reaching $13.06. 56,486,289 shares of the stock were exchanged, compared to its average volume of 40,056,395. The stock has a market capitalization of $13.33 billion, a PE ratio of -2.33 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61. The business’s fifty day simple moving average is $11.26 and its 200 day simple moving average is $12.74.

Analyst Ratings Changes

Several brokerages have recently weighed in on RIVN. Canaccord Genuity Group decreased their target price on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Royal Bank of Canada lowered their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Piper Sandler cut their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. Finally, Barclays cut their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.74.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its stake in shares of Rivian Automotive by 52.5% during the 3rd quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after buying an additional 17,341,786 shares during the period. Geode Capital Management LLC grew its position in Rivian Automotive by 1.8% during the third quarter. Geode Capital Management LLC now owns 13,000,392 shares of the electric vehicle automaker’s stock valued at $145,550,000 after acquiring an additional 223,860 shares during the period. Renaissance Technologies LLC increased its stake in Rivian Automotive by 153.2% during the second quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock worth $72,877,000 after acquiring an additional 3,285,867 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $51,693,000 after purchasing an additional 2,035,831 shares during the period. Finally, abrdn plc lifted its stake in shares of Rivian Automotive by 17.8% in the 3rd quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock valued at $38,587,000 after purchasing an additional 518,561 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.