Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 333,334 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares of the company’s stock, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Paul Cahill Sciarra also recently made the following trade(s):

• On Monday, January 13th, Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.86 on Friday. The stock has a market capitalization of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The stock has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $6.53.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business earned ($0.13) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

JOBY has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC boosted their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Institutional Trading of Joby Aviation

Several large investors have recently made changes to their positions in JOBY. Raymond James Financial Inc. acquired a new position in Joby Aviation during the fourth quarter worth about $2,168,000. Proficio Capital Partners LLC bought a new stake in shares of Joby Aviation during the 4th quarter valued at approximately $145,000. Victory Capital Management Inc. increased its position in Joby Aviation by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 54,370 shares of the company’s stock worth $442,000 after purchasing an additional 5,077 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after purchasing an additional 361,520 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Joby Aviation by 488.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,154 shares of the company’s stock valued at $83,000 after buying an additional 8,427 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.