Joby Aviation, Inc. (NYSE:JOBY) Director Sells $2,673,338.68 in Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 333,334 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 %

JOBY traded down $0.12 during midday trading on Friday, hitting $7.75. 10,067,339 shares of the company traded hands, compared to its average volume of 10,840,079. The business has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $6.55. 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 $5.93 billion, a price-to-earnings ratio of -11.06 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of 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 report on Friday, January 10th. HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group raised 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. Finally, Needham & Company LLC upped their target price on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.30.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently modified their holdings of JOBY. Allworth Financial LP lifted its position in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $41,000. Salem Investment Counselors Inc. raised 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 valued at $41,000 after buying an additional 5,000 shares during the period. Golden State Wealth Management LLC purchased a new position in Joby Aviation in the fourth quarter worth approximately $42,000. Finally, Larson Financial Group LLC increased its stake in 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 acquiring an additional 5,000 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.