Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert J. Scaringe sold 71,428 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.36, for a total value of $1,097,134.08. Following the completion of the transaction, the chief executive officer now directly owns 1,483,111 shares of the company's stock, valued at approximately $22,780,584.96. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Rivian Automotive Price Performance
RIVN stock traded up $0.48 during trading on Monday, reaching $16.29. 43,821,399 shares of the company were exchanged, compared to its average volume of 36,119,680. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $18.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of -3.45 and a beta of 1.86. The company has a 50-day moving average of $12.39 and a two-hundred day moving average of $12.53.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, equities analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rivian Automotive
A number of hedge funds have recently modified their holdings of RIVN. Assenagon Asset Management S.A. lifted its holdings in Rivian Automotive by 21.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 59,385 shares of the electric vehicle automaker's stock worth $790,000 after buying an additional 10,408 shares during the period. HB Wealth Management LLC lifted its stake in shares of Rivian Automotive by 174.9% in the fourth quarter. HB Wealth Management LLC now owns 63,274 shares of the electric vehicle automaker's stock worth $842,000 after acquiring an additional 40,256 shares during the period. Udine Wealth Management Inc. bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $1,031,000. Clarius Group LLC raised its holdings in Rivian Automotive by 25.3% during the 4th quarter. Clarius Group LLC now owns 47,679 shares of the electric vehicle automaker's stock worth $634,000 after purchasing an additional 9,633 shares during the last quarter. Finally, Grove Bank & Trust acquired a new position in shares of Rivian Automotive in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 66.25% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. JPMorgan Chase & Co. cut their price target on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Guggenheim reissued a "buy" rating and issued a $16.00 price objective on shares of Rivian Automotive in a research report on Tuesday, May 6th. TD Cowen assumed coverage on shares of Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 target price on the stock. Finally, Needham & Company LLC reduced their price target on Rivian Automotive from $17.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Three equities research 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. Based on data from MarketBeat, Rivian Automotive presently has an average rating of "Hold" and an average price target of $14.24.
Check Out Our Latest Stock Report on Rivian Automotive
Rivian Automotive Company Profile
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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.
Further Reading
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