Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert J. Scaringe sold 35,713 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total value of $409,270.98. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at $9,775,506.06. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Rivian Automotive Stock Up 3.9 %
Shares of Rivian Automotive stock opened at $11.80 on Thursday. The business has a fifty day simple moving average of $11.78 and a 200 day simple moving average of $12.08. The stock has a market cap of $13.35 billion, a PE ratio of -2.50 and a beta of 1.89. 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, Inc. has a 12 month low of $8.46 and a 12 month high of $18.86.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced 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 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.
Analyst Upgrades and Downgrades
RIVN has been the subject of several research reports. Needham & Company LLC increased their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 18th. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target for the company. The Goldman Sachs Group reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Mizuho decreased their price target on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Rivian Automotive has an average rating of "Hold" and an average price target of $14.17.
View Our Latest Stock Report on RIVN
Hedge Funds Weigh In On Rivian Automotive
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake in Rivian Automotive by 51.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 255,695 shares of the electric vehicle automaker's stock worth $3,183,000 after buying an additional 87,185 shares during the period. SOL Capital Management CO raised its position in shares of Rivian Automotive by 31.0% during the first quarter. SOL Capital Management CO now owns 198,654 shares of the electric vehicle automaker's stock worth $2,473,000 after purchasing an additional 47,025 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Rivian Automotive by 18.1% during the 1st quarter. Perigon Wealth Management LLC now owns 16,089 shares of the electric vehicle automaker's stock valued at $200,000 after purchasing an additional 2,467 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Rivian Automotive by 107.9% in the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock valued at $41,000 after purchasing an additional 1,714 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Rivian Automotive by 4.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 307,860 shares of the electric vehicle automaker's stock worth $3,833,000 after purchasing an additional 13,392 shares in the last quarter. 66.25% of the stock is owned by institutional investors.
Rivian Automotive Company Profile
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Get Free Report)
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.
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