Paul Cahill Sciarra Sells 333,334 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the sale, the director now owns 58,661,395 shares of the company’s stock, valued at $470,464,387.90. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 Aviation stock traded up $0.02 during mid-day trading on Wednesday, hitting $8.04. 7,506,322 shares of the company traded hands, compared to its average volume of 13,626,769. The stock has a fifty day moving average price of $8.39 and a 200-day moving average price of $6.52. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of -11.49 and a beta of 2.33.

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

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock valued at $1,266,000 after purchasing an additional 55,340 shares in the last quarter. Algert Global LLC acquired a new position in shares of Joby Aviation in the second quarter worth about $90,000. Sanctuary Advisors LLC purchased a new position in Joby Aviation during the second quarter valued at $81,000. Handelsbanken Fonder AB grew its stake in Joby Aviation by 31.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 101,700 shares of the company’s stock valued at $512,000 after acquiring an additional 24,500 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JOBY. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Needham & Company LLC boosted 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, January 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus 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.