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 dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the transaction, the director now directly owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. This represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68.
• On Monday, January 13th, Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00.

Joby Aviation Stock Performance

JOBY opened at $6.43 on Friday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -9.18 and a beta of 2.35. The company has a fifty day moving average of $7.29 and a 200 day moving average of $6.91. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently made changes to their positions in the company. Bouvel Investment Partners LLC increased its stake in Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,715 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Joby Aviation by 9.9% in the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after buying an additional 1,935 shares during the last quarter. Gallagher Fiduciary Advisors LLC raised its position in shares of Joby Aviation by 3.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after buying an additional 2,000 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock valued at $1,512,000 after acquiring an additional 2,065 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after acquiring an additional 2,261 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. 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.com, Joby Aviation has a consensus rating of “Moderate Buy” and an average price target of $8.90.

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.