Claire Mcdonough Sells 13,144 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Key Points

• Rivian CFO Claire Mcdonough sold 13,144 shares at an average price of $14.50, totaling $190,588. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, reducing her stake by 1.56% to 827,201 shares.
• Rivian shares traded near $14.78, with the stock below its 50-day moving average and well below its 12-month high of $22.69. The company reported quarterly revenue of $1.66 billion, up 27.2% year over year, and a smaller-than-expected loss of $0.47 per share.
• Analyst sentiment remains mixed, with Rivian holding a consensus “Hold” rating and an average price target of $18.95. Institutional investors own 66.25% of the company.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 13,144 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total value of $190,588.00. Following the transaction, the chief financial officer owned 827,201 shares in the company, valued at $11,994,414.50. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, May 29th, Claire Mcdonough sold 8,023 shares of Rivian Automotive stock. The shares were sold at an average price of $16.00, for a total value of $128,368.00.

Rivian Automotive Stock Performance

Shares of RIVN stock traded down $0.09 during trading hours on Tuesday, hitting $14.78. The stock had a trading volume of 22,619,339 shares, compared to its average volume of 30,824,910. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.10 and a quick ratio of 1.65. The firm has a market capitalization of $21.40 billion, a PE ratio of -5.73 and a beta of 1.61. The stock's 50 day moving average is $16.47 and its 200 day moving average is $15.80. Rivian Automotive, Inc. has a twelve month low of $11.84 and a twelve month high of $22.69.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its 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. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the company posted ($0.97) EPS. The company's quarterly revenue was up 27.2% on a year-over-year basis. As a group, research analysts forecast that Rivian Automotive, Inc. will post -2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its stake in shares of 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 buying an additional 1,000 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in Rivian Automotive in the fourth quarter worth $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Rivian Automotive in the third quarter valued at $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of Rivian Automotive during the 4th quarter worth $33,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of Rivian Automotive during the 1st quarter worth $39,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Rivian Automotive from a "buy" rating to an "underperform" rating in a research note on Tuesday, August 4th. UBS Group upped their price objective on Rivian Automotive from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Wall Street Zen raised Rivian Automotive from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Piper Sandler upgraded Rivian Automotive from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $18.00 to $20.00 in a research note on Monday, July 27th. Finally, Benchmark reissued a "buy" rating and issued a $25.00 target price on shares of Rivian Automotive in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and a consensus price target of $18.95.

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.

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