Claire Mcdonough Sells 9,937 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 9,937 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total value of $149,055.00. Following the completion of the transaction, the chief financial officer now owns 851,637 shares in the company, valued at $12,774,555. This trade represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 19th, Claire Mcdonough sold 6,856 shares of Rivian Automotive stock. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56.

Rivian Automotive Price Performance

Shares of RIVN traded up $0.48 during midday trading on Thursday, reaching $15.30. The stock had a trading volume of 54,988,364 shares, compared to its average volume of 36,162,304. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $18.86. The company has a market capitalization of $17.30 billion, a P/E ratio of -3.24 and a beta of 1.86. The firm's 50 day moving average price is $12.20 and its 200-day moving average price is $12.43. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on RIVN shares. Cowen started coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a "hold" rating for the company. Sanford C. Bernstein started coverage on Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target for the company. Mizuho raised their price target on Rivian Automotive from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Needham & Company LLC decreased their price objective on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.16.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Capital International Investors acquired a new position in shares of Rivian Automotive in the 4th quarter valued at about $144,030,000. Norges Bank purchased a new stake in shares of Rivian Automotive during the fourth quarter worth $123,308,000. Vanguard Group Inc. lifted its stake in Rivian Automotive by 7.8% in the first quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock valued at $959,804,000 after acquiring an additional 5,610,688 shares during the last quarter. Northern Trust Corp lifted its stake in Rivian Automotive by 68.5% in the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after acquiring an additional 2,941,928 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Rivian Automotive in the first quarter valued at approximately $33,582,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

About Rivian Automotive

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.

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