Joby Aviation, Inc. (NYSE:JOBY) Director Sells $2,673,338.68 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $2,666,656.00.

Joby Aviation Price Performance

Joby Aviation stock traded up $0.02 during trading hours on Wednesday, reaching $8.04. The company had a trading volume of 7,506,322 shares, compared to its average volume of 13,626,769. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of -11.49 and a beta of 2.33. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The company has a 50-day moving average price of $8.39 and a 200 day moving average price of $6.52.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the business earned ($0.13) earnings per share. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in shares of Joby Aviation by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after buying an additional 55,340 shares during the period. Algert Global LLC purchased a new stake in Joby Aviation during the 2nd quarter valued at $90,000. Sanctuary Advisors LLC purchased a new stake in Joby Aviation in the 2nd quarter worth about $81,000. Handelsbanken Fonder AB increased its stake in Joby Aviation by 31.7% in the third quarter. Handelsbanken Fonder AB now owns 101,700 shares of the company’s stock worth $512,000 after purchasing an additional 24,500 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Needham & Company LLC raised their target price on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.30.

About Joby Aviation

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.