Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough Sells 6,856 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00.
• On Tuesday, November 26th, Claire Mcdonough sold 8,097 shares of Rivian Automotive stock. The shares were sold at an average price of $12.20, for a total value of $98,783.40.

Rivian Automotive Stock Down 4.7 %

NASDAQ:RIVN traded down $0.64 on Friday, reaching $12.97. 70,315,891 shares of the stock traded hands, compared to its average volume of 24,614,404. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of -2.75 and a beta of 2.04. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company's fifty day simple moving average is $13.56 and its 200 day simple moving average is $12.53.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Equities analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on RIVN. Wedbush reiterated an "outperform" rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th. Piper Sandler cut their target price on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. Barclays raised their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Benchmark assumed coverage on Rivian Automotive in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.50.

Institutional Investors Weigh In On Rivian Automotive

Several large investors have recently bought and sold shares of RIVN. Baillie Gifford & Co. increased its holdings in Rivian Automotive by 52.5% in the 3rd 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 in the last quarter. Capital International Investors bought a new position in Rivian Automotive during the fourth quarter valued at approximately $144,030,000. Norges Bank bought a new position in Rivian Automotive during the fourth quarter valued at approximately $123,308,000. Northern Trust Corp lifted its position in Rivian Automotive by 68.5% during the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after purchasing an additional 2,941,928 shares during the period. Finally, Twinbeech Capital LP bought a new position in Rivian Automotive during the fourth quarter valued at approximately $29,944,000. 66.25% of the stock is currently owned by institutional investors.

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.