Rivian Automotive (NASDAQ:RIVN) Given New $14.00 Price Target at Barclays

Rivian Automotive (NASDAQ:RIVN) had its target price lifted by Barclays from $13.00 to $14.00 in a report issued on Wednesday,Benzinga reports. They currently have an equal weight rating on the electric vehicle automaker’s stock.

Several other equities research analysts also recently weighed in on RIVN. Needham & Company LLC decreased their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Mizuho decreased their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Truist Financial boosted their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus price target of $15.52.

Rivian Automotive Stock Down 4.5 %

Rivian Automotive stock opened at $12.69 on Wednesday. The company has a market capitalization of $12.95 billion, a P/E ratio of -2.27 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $18.85. The stock has a 50-day simple moving average of $13.09 and a 200-day simple moving average of $13.03.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares of the company’s stock, valued at $4,518,892.20. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,429 shares of company stock valued at $4,467,450. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RIVN. Charles Schwab Investment Management Inc. grew its position in shares of Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. International Assets Investment Management LLC grew its holdings in Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC increased its stake in shares of Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after acquiring an additional 124,950 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Rivian Automotive by 543.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after acquiring an additional 120,544 shares during the period. Finally, Renaissance Capital LLC boosted its position in shares of Rivian Automotive by 20.0% in the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock worth $9,958,000 after acquiring an additional 148,197 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Company Profile

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.