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 firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at $470,464,387.90. The trade was a 0.57 % 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, 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 Trading Down 1.5 %

Shares of JOBY opened at $7.75 on Friday. The firm has a market capitalization of $5.93 billion, a P/E ratio of -11.06 and a beta of 2.33. The firm has a fifty day moving average price of $8.39 and a 200-day moving average price of $6.54. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after acquiring an additional 55,340 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $90,000. Sanctuary Advisors LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $81,000. Handelsbanken Fonder AB boosted its stake in shares of Joby Aviation by 31.7% during the third quarter. Handelsbanken Fonder AB now owns 101,700 shares of the company’s stock valued at $512,000 after purchasing an additional 24,500 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors 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.