Rivian Automotive (NASDAQ:RIVN) Trading Down 4.1% After Insider Selling

Rivian Automotive, Inc. (NASDAQ:RIVN) traded down 4.1% on Thursday after an insider sold shares in the company. The stock traded as low as $13.28 and last traded at $13.36. 12,994,327 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 32,333,453 shares. The stock had previously closed at $13.93.

Specifically, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group lifted their target price on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus lowered their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial lifted their target price on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Benchmark initiated coverage on Rivian Automotive in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.13.

Rivian Automotive Trading Down 2.3 %

The company has a market capitalization of $13.89 billion, a P/E ratio of -2.43 and a beta of 2.04. The business has a fifty day moving average price of $13.59 and a 200 day moving average price of $12.54. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 72.78% and a negative net margin of 121.38%. On average, analysts expect that Rivian Automotive, Inc. will post -4.7 earnings per share for the current fiscal year.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tandem Financial LLC bought a new stake in Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the third quarter worth about $28,000. Orion Capital Management LLC bought a new stake in Rivian Automotive during the fourth quarter worth about $34,000. Finally, GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares in the last quarter. 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.