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 dated Monday, April 21st. The shares were sold at an average price of $5.73, for a total transaction of $955,001.91. Following the transaction, the director now owns 58,328,061 shares of the company's stock, valued at $334,219,789.53. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paul Cahill Sciarra also recently made the following trade(s):

• On Monday, March 24th, Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26.
• 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.

Joby Aviation Price Performance

JOBY stock traded down $0.00 on Friday, hitting $6.48. 4,542,383 shares of the company were exchanged, compared to its average volume of 11,458,459. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -9.25 and a beta of 2.35. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72. The business's fifty day moving average is $6.31 and its two-hundred day moving average is $6.98.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold 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 a consensus target price of $8.58.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after acquiring an additional 670,852 shares during the period. Tidal Investments LLC lifted its stake in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock valued at $147,000 after purchasing an additional 3,522 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Joby Aviation during the 4th quarter worth about $142,000. Watts Gwilliam & Co. LLC acquired a new stake in Joby Aviation during the 4th quarter worth approximately $154,000. Finally, Salem Investment Counselors Inc. raised its holdings in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after buying an additional 5,000 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.