Joby Aviation, Inc. (NYSE:JOBY) Director Sells $2,800,005.60 in Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 333,334 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $8.40, for a total value of $2,800,005.60. Following the completion of the transaction, the director now owns 57,828,060 shares in the company, valued at $485,755,704. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, April 21st, Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock. The stock was sold at an average price of $5.73, for a total value of $955,001.91.

Joby Aviation Trading Up 11.0%

Shares of JOBY traded up $0.93 during trading hours on Thursday, reaching $9.45. The company had a trading volume of 26,569,117 shares, compared to its average volume of 14,347,561. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $10.72. The firm has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $7.40. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of -11.25 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter last year, the company earned ($0.14) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on JOBY. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Monday. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 target price (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.33.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of JOBY. GAMMA Investing LLC raised its holdings in Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after purchasing an additional 5,015 shares during the last quarter. Strs Ohio purchased a new position in shares of Joby Aviation in the first quarter valued at $37,000. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the fourth quarter valued at $38,000. Toronto Dominion Bank acquired a new position in shares of Joby Aviation during the 4th quarter worth $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 52.85% of the company's stock.

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.