Joby Aviation (NYSE:JOBY) Director Sells $497,500.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 62,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $7.96, for a total transaction of $497,500.00. Following the completion of the sale, the director owned 55,765,557 shares of the company’s stock, valued at $443,893,833.72. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32.

Joby Aviation Stock Performance

JOBY opened at $7.92 on Monday. Joby Aviation, Inc. has a 12-month low of $6.63 and a 12-month high of $19.98. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73. The business has a 50 day moving average of $8.35 and a 200-day moving average of $9.34. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The firm’s revenue was up 257493.3% compared to the same quarter last year. On average, equities research analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. Lingotto Investment Management LLP lifted its stake in shares of Joby Aviation by 34.2% in the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after acquiring an additional 799,260 shares during the period. DNB Asset Management AS lifted its position in shares of Joby Aviation by 16.3% in the 4th quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after purchasing an additional 51,344 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Joby Aviation by 30.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 352,874 shares of the company’s stock valued at $3,148,000 after purchasing an additional 82,737 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Joby Aviation during the fourth quarter worth $32,269,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JOBY shares. Susquehanna set a $18.00 price target on shares of Joby Aviation in a report on Thursday, August 6th. Barclays upgraded Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Needham & Company LLC decreased their price objective on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.