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 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 of the company’s stock, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Performance

Shares of JOBY opened at $7.86 on Friday. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33. The stock has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $6.53. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the company earned ($0.13) EPS. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Joby Aviation

Several hedge funds have recently modified their holdings of JOBY. Baillie Gifford & Co. raised 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the period. State Street Corp raised its position in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after acquiring an additional 361,520 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in Joby Aviation by 22.2% in the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock worth $27,551,000 after purchasing an additional 616,193 shares during the period. 52.85% of the stock is owned by institutional investors.

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.