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Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells $975,005.85 in Stock

Rivian Automotive logo with Auto/Tires/Trucks background

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at approximately $11,784,877.65. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rivian Automotive Trading Up 6.8 %

RIVN traded up $0.97 on Monday, reaching $15.34. 55,926,380 shares of the company's stock were exchanged, compared to its average volume of 40,025,484. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The company's 50 day moving average is $11.18 and its 200-day moving average is $12.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a market cap of $15.66 billion, a price-to-earnings ratio of -2.74 and a beta of 2.12.

Institutional Trading of Rivian Automotive

Institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. raised its holdings in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC grew its position in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive in the second quarter valued at about $37,000. Institutional investors own 66.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th. Stifel Nicolaus cut their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Morgan Stanley cut Rivian Automotive from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 25th. Finally, Guggenheim dropped their price target on Rivian Automotive from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.83.

Read Our Latest Report on Rivian Automotive

Rivian Automotive Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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