Claire Mcdonough Sells 17,185 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the sale, the chief financial officer now owns 824,875 shares in the company, valued at approximately $12,694,826.25. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, May 13th, Claire Mcdonough sold 9,937 shares of Rivian Automotive stock. The shares were sold at an average price of $15.00, for a total value of $149,055.00.
• On Wednesday, February 19th, Claire Mcdonough sold 6,856 shares of Rivian Automotive stock. The shares were sold at an average price of $14.26, for a total value of $97,766.56.

Rivian Automotive Trading Down 1.8%

Shares of RIVN stock traded down $0.28 during trading hours on Friday, reaching $15.63. The company's stock had a trading volume of 21,760,518 shares, compared to its average volume of 36,281,422. The stock has a market capitalization of $17.67 billion, a P/E ratio of -3.31 and a beta of 1.86. Rivian Automotive, Inc. has a one year low of $9.50 and a one year high of $18.86. The firm's fifty day simple moving average is $12.92 and its 200 day simple moving average is $12.70. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.23. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $981.52 million. During the same quarter in the previous year, the business posted ($1.48) earnings per share. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Rivian Automotive by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock valued at $63,055,000 after purchasing an additional 133,781 shares in the last quarter. Twinbeech Capital LP bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $29,944,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $1,363,000. Groupama Asset Managment bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $26,600,000. Finally, SG Americas Securities LLC boosted its stake in Rivian Automotive by 42.7% during the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after acquiring an additional 54,053 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RIVN shares. Bank of America downgraded shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Wedbush decreased their target price on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price objective on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.33.

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.