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Rivian Automotive (NASDAQ:RIVN) CFO Claire Mcdonough Sells 5,544 Shares

Rivian Automotive logo with Auto/Tires/Trucks background
Image from MarketBeat Media, LLC.

Key Points

  • Rivian CFO Claire Mcdonough sold 5,544 shares on May 18 at an average price of $13.43, totaling about $74,456. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting.
  • The transaction reduced Mcdonough’s stake only slightly, leaving her with 902,630 shares worth about $12.1 million, a 0.61% decrease in her position.
  • Rivian shares were under pressure, closing at $12.90 on heavy volume, while analysts remain split overall with a consensus “Hold” rating and a $18.57 average price target.
  • Five stocks we like better than Rivian Automotive.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CFO Claire Mcdonough sold 5,544 shares of Rivian Automotive stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $13.43, for a total transaction of $74,455.92. Following the completion of the transaction, the chief financial officer owned 902,630 shares of the company's stock, valued at $12,122,320.90. This trade represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 Wednesday, April 22nd, Claire Mcdonough sold 10,245 shares of Rivian Automotive stock. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00.
  • On Wednesday, February 18th, Claire Mcdonough sold 27,133 shares of Rivian Automotive stock. The shares were sold at an average price of $16.80, for a total transaction of $455,834.40.

Rivian Automotive Stock Performance

RIVN stock traded down $0.45 on Tuesday, hitting $12.90. The company's stock had a trading volume of 41,046,735 shares, compared to its average volume of 28,211,084. The firm has a 50 day moving average of $15.46 and a two-hundred day moving average of $16.28. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69. The stock has a market cap of $16.01 billion, a price-to-earnings ratio of -4.42 and a beta of 1.64. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00.

Analyst Ratings Changes

A number of research analysts have weighed in on RIVN shares. TD Cowen raised shares of Rivian Automotive from a "hold" rating to a "buy" rating and lifted their price target for the company from $17.00 to $20.00 in a research report on Tuesday, March 10th. Cantor Fitzgerald lifted their price target on shares of Rivian Automotive from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Wedbush restated an "outperform" rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Rivian Automotive from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Finally, Piper Sandler lowered their price target on shares of Rivian Automotive from $20.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $18.57.

View Our Latest Analysis on Rivian Automotive

Key Stories Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. increased its holdings in shares of Rivian Automotive by 113.6% during the 2nd 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 during the last quarter. Core Wealth Advisors LLC bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $27,000. SOA Wealth Advisors LLC. lifted its position in shares of Rivian Automotive by 894.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker's stock valued at $31,000 after acquiring an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Rivian Automotive during the 3rd quarter valued at $31,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $33,000. Institutional investors own 66.25% of the company's stock.

About Rivian Automotive

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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.

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