Rivian Automotive (NASDAQ:RIVN) Director Sells 20,000 Shares

Key Points

• Rivian director Karen Boone sold 20,000 shares on July 6 at an average price of $20.00, totaling $400,000. The sale was made under a pre-arranged Rule 10b5-1 plan, and her holdings fell 15.38% to 110,000 shares.
• Rivian’s stock was trading at $16.66 in the latest session, giving the company a market cap of about $20.67 billion. The shares have traded between $11.57 and $22.69 over the past year.
• Recent fundamentals were mixed: Rivian beat quarterly EPS and revenue estimates, but it remains unprofitable, and analysts currently view the stock as a Hold on average with a $18.76 price target.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) Director Karen Boone sold 20,000 shares of Rivian Automotive stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director owned 110,000 shares of the company's stock, valued at $2,200,000. This trade represents a 15.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rivian Automotive Price Performance

NASDAQ RIVN traded up $0.17 during trading hours on Wednesday, reaching $16.66. 110,744,660 shares of the company's stock were exchanged, compared to its average volume of 32,529,750. The firm has a fifty day moving average of $15.71 and a 200-day moving average of $16.26. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The stock has a market cap of $20.67 billion, a PE ratio of -5.71 and a beta of 1.60. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.48) EPS. On average, equities research analysts predict that Rivian Automotive, Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RIVN. Jefferies Financial Group raised their price objective on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $23.00 target price on shares of Rivian Automotive in a research report on Wednesday, June 10th. Leerink Partners reissued an "outperform" rating on shares of Rivian Automotive in a research note on Thursday, March 12th. Canaccord Genuity Group reissued a "buy" rating and issued a $22.00 price target on shares of Rivian Automotive in a report on Monday, April 6th. Finally, TD Cowen restated a "buy" rating and issued a $20.00 price objective on shares of Rivian Automotive in a research report on Wednesday, June 3rd. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Rivian Automotive has an average rating of "Hold" and an average price target of $18.76.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. grew its position 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 buying an additional 1,000 shares during the period. Core Wealth Advisors LLC bought a new position in Rivian Automotive in the fourth quarter valued at approximately $27,000. SOA Wealth Advisors LLC. grew its holdings in 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 worth $31,000 after acquiring an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Rivian Automotive during the 3rd quarter worth $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. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Rivian Automotive

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

• Positive Sentiment: Analysts at BNP Paribas Exane raised their price target on Rivian to $24 and maintained an outperform rating, signaling confidence in longer-term upside despite the selloff.
• Positive Sentiment: Rivian’s Q2 delivery update was stronger than expected, and the company lifted its full-year delivery outlook, which supports the growth story for its upcoming R2 launch.
• Neutral Sentiment: Rivian’s latest article highlights that the new capital could help fund expansion, manufacturing capacity, and the R2 program, but investors are still waiting to see whether the added cash improves execution. Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
• Neutral Sentiment: Broader coverage notes that Rivian still has a solid revenue outlook and stronger cash position than before, but the company remains unprofitable and capital-intensive as it ramps production. Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
• Negative Sentiment: The share offering is the main overhang, as investors worry the new stock sale will dilute existing holders and signal that Rivian still needs substantial outside funding to support growth.
• Negative Sentiment: Several articles point to the selloff being driven by cash-burn concerns and the risk that Rivian must keep raising capital before its business can scale profitably.

About Rivian Automotive

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.

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