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 business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 819,178 shares in the company, valued at approximately $13,106,848. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Claire Mcdonough sold 13,144 shares of Rivian Automotive stock. The shares were sold at an average price of $14.50, for a total value of $190,588.00.
• On Friday, May 29th, Claire Mcdonough sold 8,023 shares of Rivian Automotive stock. The stock was sold at an average price of $16.00, for a total value of $128,368.00.

Rivian Automotive Stock Up 6.0%

Shares of NASDAQ:RIVN opened at $16.97 on Friday. The firm has a market cap of $24.57 billion, a P/E ratio of -6.58 and a beta of 1.61. Rivian Automotive, Inc. has a 12-month low of $12.16 and a 12-month high of $22.69. The business has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $15.81. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.19. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.52 billion. Rivian Automotive had a negative return on equity of 73.90% and a negative net margin of 54.96%.The business’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.97) EPS. Analysts predict that Rivian Automotive, Inc. will post -2.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $19.00 target price on shares of Rivian Automotive in a research report on Tuesday, July 28th. Piper Sandler raised shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research note on Monday, July 27th. DA Davidson increased their price objective on shares of Rivian Automotive from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BNP Paribas Exane boosted their target price on shares of Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada upped their price target on shares of Rivian Automotive from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.95.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently made changes to their positions in RIVN. Danske Bank A S increased its holdings in Rivian Automotive by 36.8% during the 4th quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock worth $12,102,000 after purchasing an additional 165,300 shares in the last quarter. Trek Financial LLC bought a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $6,115,000. Independent Financial Group LLC bought a new position in shares of Rivian Automotive in the first quarter valued at approximately $985,000. Swedbank AB lifted its holdings in shares of Rivian Automotive by 8.6% in the fourth quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock valued at $18,553,000 after purchasing an additional 74,322 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Rivian Automotive by 34.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker’s stock valued at $5,249,000 after buying an additional 90,200 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Company Profile

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.