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 firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the sale, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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 value of $2,666,656.00.

Joby Aviation Stock Down 1.5 %

Shares of NYSE JOBY opened at $7.75 on Friday. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The business’s 50 day moving average price is $8.39 and its 200 day moving average price is $6.54. The firm has a market cap of $5.93 billion, a P/E ratio of -11.06 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (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 analyst estimates of $0.06 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on JOBY shares. Canaccord Genuity Group increased their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price target for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC lifted their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. State Street Corp increased its holdings in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Joby Aviation by 22.2% during the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock valued at $27,551,000 after acquiring an additional 616,193 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after purchasing an additional 361,520 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.