Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Claire Mcdonough also recently made the following trade(s):
- On Monday, December 16th, Claire Mcdonough sold 18,501 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total value 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 transaction of $98,783.40.
Rivian Automotive Stock Performance
NASDAQ:RIVN traded down $0.64 during trading on Friday, reaching $12.97. The company's stock had a trading volume of 70,315,891 shares, compared to its average volume of 34,656,977. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of -2.32 and a beta of 2.04. The firm has a 50 day moving average of $13.56 and a 200-day moving average of $12.53. 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 (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. Research analysts expect that Rivian Automotive, Inc. will post -4.7 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have commented on RIVN. Needham & Company LLC upped their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their price target on Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday. Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Cantor Fitzgerald downgraded shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Friday. Finally, Sanford C. Bernstein began coverage on Rivian Automotive in a research report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Rivian Automotive has a consensus rating of "Hold" and an average price target of $15.50.
Get Our Latest Stock Report on Rivian Automotive
Institutional Investors Weigh In On Rivian Automotive
A number of hedge funds have recently modified their holdings of RIVN. Baillie Gifford & Co. raised its stake in shares of Rivian Automotive by 52.5% in the third 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. Capital International Investors purchased a new stake in Rivian Automotive in the 4th quarter worth about $144,030,000. Norges Bank bought a new stake in Rivian Automotive in the 4th quarter valued at about $123,308,000. Northern Trust Corp raised its stake in Rivian Automotive by 68.5% in the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after acquiring an additional 2,941,928 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in Rivian Automotive during the fourth quarter valued at about $29,944,000. Institutional investors own 66.25% of the company's stock.
About Rivian Automotive
(
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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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