Insider Selling: Rivian Automotive (NASDAQ:RIVN) CEO Sells 52,350 Shares of Stock

Key Points

• Rivian CEO Robert Scaringe sold 52,350 shares on Nov. 11 at an average price of $16.60 for $869,010, trimming his stake by 4.03% to 1,246,405 shares (≈$20.7M).
• Shares fell to $16.39 on heavy volume (58.65M vs. avg 38.14M), with a 12‑month range of $9.55–$18.13 and a market cap of about $19.9B; the company has a negative P/E of -5.27.
• Analyst consensus is "Hold" with a consensus target of $13.81, following several recent price‑target cuts and mixed ratings from major brokers.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 52,350 shares of the firm's stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the transaction, the chief executive officer directly owned 1,246,405 shares of the company's stock, valued at approximately $20,690,323. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rivian Automotive Price Performance

Rivian Automotive stock traded down $1.13 during mid-day trading on Thursday, hitting $16.39. 58,645,526 shares of the company were exchanged, compared to its average volume of 38,140,801. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. Rivian Automotive, Inc. has a 12-month low of $9.55 and a 12-month high of $18.13. The business's 50 day simple moving average is $14.10 and its two-hundred day simple moving average is $13.79. The company has a market capitalization of $19.89 billion, a P/E ratio of -5.27 and a beta of 1.81.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RIVN. Needham & Company LLC restated a "buy" rating and set a $14.00 target price on shares of Rivian Automotive in a research report on Monday, August 25th. The Goldman Sachs Group decreased their price target on Rivian Automotive from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 5th. Mizuho reiterated an "underperform" rating and set a $10.00 price objective (down from $14.00) on shares of Rivian Automotive in a report on Monday, October 20th. Wedbush cut their price target on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on Rivian Automotive from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Monday, October 20th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Rivian Automotive has an average rating of "Hold" and a consensus target price of $13.81.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in shares of Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after purchasing an additional 1,357 shares during the period. Newbridge Financial Services Group Inc. lifted 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 worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Mather Group LLC. acquired a new stake in Rivian Automotive during the 3rd quarter valued at approximately $30,000. Hemington Wealth Management raised its position in shares of Rivian Automotive by 291.0% in the 3rd quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker's stock valued at $31,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Fairman Group LLC acquired a new stake in shares of Rivian Automotive during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.