Insider Selling: 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 stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares in the company, valued at $396,594,255.84. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 shares were 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 stock was sold at an average price of $8.00, for a total value of $2,666,656.00.

Joby Aviation Trading Down 4.8 %

JOBY opened at $6.12 on Friday. The company has a market cap of $4.82 billion, a P/E ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The business’s 50-day moving average price is $7.25 and its 200-day moving average price is $6.91.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% in 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 last quarter. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the fourth quarter valued at about $38,000. Salem Investment Counselors Inc. raised its stake in shares of Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new stake in shares of Joby Aviation in the fourth quarter worth about $41,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.