Claire Mcdonough Sells 21,210 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 21,210 shares of Rivian Automotive stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $17.14, for a total value of $363,539.40. Following the completion of the transaction, the chief financial officer owned 738,056 shares of the company’s stock, valued at approximately $12,650,279.84. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, December 4th, Claire Mcdonough sold 8,039 shares of Rivian Automotive stock. The shares were sold at an average price of $18.00, for a total value of $144,702.00.

Rivian Automotive Price Performance

Shares of RIVN traded up $0.53 during midday trading on Thursday, hitting $18.06. 38,907,862 shares of the company traded hands, compared to its average volume of 38,304,238. Rivian Automotive, Inc. has a one year low of $10.36 and a one year high of $18.17. The firm has a market cap of $22.14 billion, a P/E ratio of -5.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. The stock has a 50-day moving average of $14.56 and a 200-day moving average of $13.98.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RIVN. Cfra Research upgraded Rivian Automotive to a “moderate sell” rating in a research report on Thursday, October 2nd. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Mizuho restated an “underperform” rating and set a $10.00 price target (down previously from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Morgan Stanley cut their price objective on Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, DA Davidson increased their price objective on Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.34.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 1,357 shares during the period. Banque Transatlantique SA raised its stake in shares of Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 2,243 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Mather Group LLC. bought a new stake in shares of Rivian Automotive in the third quarter worth about $30,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive during the 2nd quarter valued at about $31,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

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.