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

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 166,667 shares of the firm'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 sale, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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 Stock Down 4.8 %

NYSE JOBY traded down $0.31 during trading hours on Friday, hitting $6.12. The company's stock had a trading volume of 9,297,624 shares, compared to its average volume of 10,842,135. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The firm has a market capitalization of $4.82 billion, a P/E ratio of -8.75 and a beta of 2.35. The stock has a fifty day moving average of $7.25 and a 200 day moving average of $6.93.

Remove Ads

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC grew its stake in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after purchasing an additional 5,000 shares during the period. Whittier Trust Co. bought a new position in Joby Aviation during the fourth quarter worth about $38,000. Salem Investment Counselors Inc. grew its position 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 bought a new stake in shares of Joby Aviation in the 4th quarter valued at about $41,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 52.85% of the company's stock.

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.