Insider Selling: Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Sells 71,429 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rivian Automotive Price Performance

Shares of RIVN stock traded down $0.74 on Wednesday, reaching $14.21. The company’s stock had a trading volume of 32,959,061 shares, compared to its average volume of 56,455,809. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $19.76. The stock’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $13.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $14.50 billion, a P/E ratio of -2.54 and a beta of 2.05.

Analyst Upgrades and Downgrades

RIVN has been the subject of a number of analyst reports. Truist Financial reissued a “hold” rating and set a $12.00 target price on shares of Rivian Automotive in a research note on Friday, January 3rd. Royal Bank of Canada decreased their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Piper Sandler decreased their price target on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price target on shares of Rivian Automotive in a report on Tuesday, September 10th. Finally, Barclays lowered their target price on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and an average price target of $15.48.

Institutional Trading of Rivian Automotive

A number of large investors have recently modified their holdings of RIVN. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. raised its holdings 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 valued at $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its position 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 valued at $33,000 after buying an additional 2,111 shares during the period. Hantz Financial Services Inc. grew its holdings in 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 worth $34,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Rivian Automotive in the third quarter valued at about $44,000. Institutional investors own 66.25% of the company’s stock.

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.