Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 166,667 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 166,667 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the transaction, the director now owns 58,494,728 shares of the company’s stock, valued at $396,594,255.84. This trade represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, February 3rd, Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68.
• 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 Price Performance

JOBY opened at $6.12 on Friday. The firm has a market cap of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. The stock has a 50-day moving average price of $7.25 and a 200-day moving average price of $6.91. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Joby Aviation during the third quarter valued at approximately $518,000. Rheos Capital Works Inc. boosted its stake in Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of Joby Aviation by 89.4% in the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after purchasing an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Joby Aviation in the fourth quarter worth $418,000. Finally, Entropy Technologies LP bought a new position in shares of Joby Aviation during the fourth quarter valued at $300,000. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.90.

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.