Rivian Automotive (NASDAQ:RIVN) CEO Sells $522,270.00 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO Robert Scaringe sold 34,818 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the transaction, the chief executive officer owned 922,286 shares in the company, valued at approximately $13,834,290. This trade represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $16.30 on Monday. The firm has a market cap of $20.23 billion, a P/E ratio of -5.58 and a beta of 1.62. 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, Inc. has a 1-year low of $11.57 and a 1-year high of $22.69. The business’s 50 day moving average is $15.28 and its 200-day moving average is $16.30.

Hedge Funds Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently modified their holdings of the business. Core Wealth Advisors LLC bought a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. SOA Wealth Advisors LLC. increased its stake in shares of Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after purchasing an additional 1,395 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Rivian Automotive in the 4th quarter valued at $33,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Rivian Automotive by 96.3% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 852 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

More Rivian Automotive News

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

• Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
• Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What’s Driving The Move?
• Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
• Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models

Wall Street Analysts Forecast Growth

A number of research firms have commented on RIVN. Wells Fargo & Company raised their price objective on Rivian Automotive from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Rivian Automotive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $23.00 in a research note on Friday, February 13th. UBS Group upgraded Rivian Automotive from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $15.00 to $16.00 in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded Rivian Automotive from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average price target of $18.57.

Rivian Automotive Company Profile

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.