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

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $8.40, for a total value of $2,800,005.60. Following the sale, the director now owns 57,828,060 shares in the company, valued at approximately $485,755,704. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Down 3.7%

Joby Aviation stock opened at $8.50 on Thursday. The company has a market cap of $6.73 billion, a PE ratio of -10.12 and a beta of 2.39. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72. The company’s 50-day moving average is $7.41 and its two-hundred day moving average is $7.40.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating 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 period last year, the company earned ($0.14) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. HC Wainwright restated a “buy” rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Monday. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.33.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. Toyota Motor Corp bought a new position in shares of Joby Aviation in the 4th quarter worth $640,259,000. Vanguard Group Inc. lifted its stake in Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after buying an additional 6,388,232 shares during the period. Uber Technologies Inc acquired a new position in Joby Aviation in the fourth quarter valued at about $207,842,000. Geode Capital Management LLC boosted its holdings in Joby Aviation by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock worth $83,015,000 after buying an additional 817,638 shares during the last quarter. Finally, Rheos Capital Works Inc. grew its position in shares of Joby Aviation by 89.4% during the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company’s stock worth $27,421,000 after buying an additional 2,150,000 shares during the period. 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.