Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 166,667 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the transaction, the director now owns 58,494,728 shares of the company’s stock, valued at approximately $396,594,255.84. The trade was a 0.28 % decrease in their ownership of the stock. The transaction 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, February 3rd, Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68.
• On Monday, January 13th, Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00.

Joby Aviation Stock Performance

Joby Aviation stock opened at $6.57 on Thursday. The stock has a 50-day simple moving average of $7.33 and a 200 day simple moving average of $6.91. The stock has a market capitalization of $5.17 billion, a P/E ratio of -9.38 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group upped 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. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Joby Aviation during the 4th quarter worth about $38,000. Salem Investment Counselors Inc. boosted its holdings in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Joby Aviation in the 4th quarter valued at about $41,000. Finally, Toronto Dominion Bank bought a new position in Joby Aviation in the 4th quarter valued at about $41,000. 52.85% of the stock is currently owned by institutional investors.

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.