Joby Aviation (NYSE:JOBY) Director Paul Cahill Sciarra Sells 500,001 Shares

Key Points

• Joby Aviation's Director Paul Cahill Sciarra sold 500,001 shares at an average price of $14.30, totaling over $7 million, reducing his stake in the company by 0.88%.
• The company's stock has fluctuated between a 12-month low of $4.78 and a high of $20.95, recently trading at $14.37.
• Joby Aviation reported a loss of ($0.24) earnings per share in its latest quarterly earnings, missing analysts' expectations and experiencing a revenue decline of 94.6% year-over-year.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 500,001 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the sale, the director owned 56,328,057 shares of the company's stock, valued at $805,491,215.10. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, August 25th, Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock. The shares were sold at an average price of $14.35, for a total transaction of $7,175,014.35.
• On Monday, July 14th, Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock. The shares were sold at an average price of $12.38, for a total transaction of $6,190,012.38.
• On Monday, June 23rd, Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock. The shares were sold at an average price of $8.40, for a total transaction of $2,800,005.60.

Joby Aviation Stock Performance

Shares of JOBY stock traded up $0.25 on Tuesday, hitting $14.37. The stock had a trading volume of 56,438,826 shares, compared to its average volume of 31,915,002. Joby Aviation, Inc. has a 12-month low of $4.78 and a 12-month high of $20.95. The business has a 50 day moving average of $15.51 and a 200 day moving average of $10.10.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The firm's revenue was down 94.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. HC Wainwright lowered shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research report on Thursday, August 7th. Canaccord Genuity Group downgraded shares of Joby Aviation from a "buy" rating to a "hold" rating and lifted their price target for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $10.50.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company's stock valued at $97,000 after acquiring an additional 689 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after acquiring an additional 750 shares during the period. Allworth Financial LP lifted its stake in Joby Aviation by 11.9% during the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company's stock valued at $76,000 after acquiring an additional 763 shares during the period. Flagship Harbor Advisors LLC lifted its stake in Joby Aviation by 2.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company's stock valued at $335,000 after acquiring an additional 800 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock valued at $403,000 after acquiring an additional 821 shares during the period. 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.

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