Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 500,001 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the sale, the director owned 57,328,059 shares in the company, valued at approximately $709,721,370.42. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, June 23rd, Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock. The stock was sold at an average price of $8.40, for a total transaction of $2,800,005.60.
• 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 transaction of $955,001.91.

Joby Aviation Price Performance

NYSE:JOBY traded up $2.43 during trading hours on Wednesday, hitting $16.38. The company had a trading volume of 78,920,921 shares, compared to its average volume of 15,757,487. The company has a market capitalization of $12.97 billion, a PE ratio of -19.50 and a beta of 2.47. The stock has a 50-day moving average price of $8.96 and a 200 day moving average price of $7.74. Joby Aviation, Inc. has a 52 week low of $4.66 and a 52 week high of $16.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm posted ($0.14) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the period. Strs Ohio bought a new position in shares of Joby Aviation during the 1st quarter valued at approximately $37,000. Whittier Trust Co. bought a new position in shares of Joby Aviation during the 4th quarter valued at approximately $38,000. Toronto Dominion Bank bought a new position in shares of Joby Aviation during the 4th quarter valued at approximately $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Joby Aviation during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JOBY. Canaccord Genuity Group restated a "buy" rating and set a $12.00 price target on shares of Joby Aviation in a research note on Wednesday, June 4th. HC Wainwright reiterated a "buy" rating and issued a $13.00 target price (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Wall Street Zen raised shares of Joby Aviation from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $9.33.

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.