Joby Aviation, Inc. (NYSE:JOBY) Director Sells $1,130,002.26 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 166,667 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares of the company’s stock, valued at approximately $396,594,255.84. This represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 value of $2,666,656.00.

Joby Aviation Price Performance

NYSE JOBY traded down $0.10 on Wednesday, hitting $6.57. 9,399,334 shares of the stock were exchanged, compared to its average volume of 12,802,674. The company’s 50-day moving average price is $7.36 and its two-hundred day moving average price is $6.91. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -9.38 and a beta of 2.35.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Hedge Funds Weigh In On Joby Aviation

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

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.