Joby Aviation, Inc. (NYSE:JOBY) Director Sells $2,666,656.00 in Stock

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

Joby Aviation Stock Performance

Shares of JOBY stock opened at $8.10 on Thursday. The firm’s 50 day moving average price is $7.81 and its two-hundred day moving average price is $6.27. The stock has a market cap of $6.20 billion, a PE ratio of -11.57 and a beta of 2.33. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

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

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Commonwealth Equity Services LLC raised its holdings in shares of Joby Aviation by 67.1% during the second quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock worth $522,000 after acquiring an additional 41,128 shares during the period. Rhumbline Advisers raised its holdings in shares of Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after acquiring an additional 115,483 shares during the period. Choreo LLC acquired a new stake in shares of Joby Aviation during the second quarter worth $60,000. Amalgamated Bank raised its holdings in shares of Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after acquiring an additional 4,391 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Joby Aviation by 142.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,200 shares of the company’s stock worth $129,000 after acquiring an additional 14,805 shares during the period. 52.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on JOBY. Needham & Company LLC raised their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group increased their price target 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

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.