Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $491,410.88 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rivian Automotive Trading Up 2.2 %

RIVN opened at $12.77 on Friday. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of -2.28 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The business has a fifty day moving average price of $13.19 and a 200 day moving average price of $12.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RIVN. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the 3rd quarter worth $28,000. GHP Investment Advisors Inc. grew its stake in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares in the last quarter. American Capital Advisory LLC grew its stake in Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Rivian Automotive during the 3rd quarter worth $44,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on RIVN. UBS Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Royal Bank of Canada reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. The Goldman Sachs Group lifted their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Rivian Automotive in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.52.

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.