Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 333,332 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the sale, the director now directly owns 58,994,729 shares in the company, valued at $471,957,832. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded down $0.11 during trading hours on Tuesday, reaching $7.85. The stock had a trading volume of 11,665,120 shares, compared to its average volume of 19,690,748. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The firm’s 50 day moving average is $7.70 and its 200-day moving average is $6.24. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -11.21 and a beta of 2.33.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JOBY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC upped their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $5.00 to $6.00 in a research note on Friday. 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 note on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. One investment 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 an average price target of $9.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Hamilton Lane Advisors LLC purchased a new position in shares of Joby Aviation in the 4th quarter valued at $418,000. Salem Investment Counselors Inc. grew its position in shares of Joby Aviation by 5,000.0% in 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 last quarter. Watts Gwilliam & Co. LLC purchased a new position in shares of Joby Aviation in the 4th quarter valued at $154,000. Everence Capital Management Inc. purchased a new position in shares of Joby Aviation in the 4th quarter valued at $142,000. Finally, Tidal Investments LLC grew its position 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 buying an additional 3,522 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.