Rivian Automotive (NASDAQ:RIVN) CFO Claire Mcdonough Sells 8,023 Shares

Rivian Automotive, Inc. (NASDAQ:RIVN) CFO Claire Mcdonough sold 8,023 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the sale, the chief financial officer owned 887,007 shares in the company, valued at $14,192,112. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Claire Mcdonough sold 5,544 shares of Rivian Automotive stock. The shares were sold at an average price of $13.43, for a total value of $74,455.92.
• On Wednesday, April 22nd, Claire Mcdonough sold 10,245 shares of Rivian Automotive stock. The shares were sold at an average price of $18.00, for a total value of $184,410.00.

Rivian Automotive Price Performance

NASDAQ:RIVN traded up $0.34 during trading hours on Tuesday, reaching $17.29. The company had a trading volume of 43,402,650 shares, compared to its average volume of 29,852,022. The stock has a 50-day moving average of $15.29 and a two-hundred day moving average of $16.29. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The firm has a market capitalization of $21.46 billion, a PE ratio of -5.92 and a beta of 1.62. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00.

Analysts Set New Price Targets

Several brokerages have recently commented on RIVN. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Rivian Automotive in a report on Friday, May 1st. Wall Street Zen upgraded Rivian Automotive from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Cantor Fitzgerald increased their target price on Rivian Automotive from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Jefferies Financial Group restated a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a report on Tuesday, March 3rd. Finally, Bank of America began coverage on Rivian Automotive in a report on Wednesday, March 4th. They set an “underperform” rating and a $14.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.57.

Hedge Funds Weigh In On Rivian Automotive

Hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its holdings in Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC bought a new position in Rivian Automotive in the fourth quarter valued at about $27,000. SOA Wealth Advisors LLC. boosted its holdings in Rivian Automotive by 894.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after acquiring an additional 1,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rivian Automotive in the third quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Rivian Automotive in the fourth quarter valued at about $33,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.