Insider Selling: Joby Aviation (NYSE:JOBY) Director Sells $310,625.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Sciarra sold 62,500 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $4.97, for a total transaction of $310,625.00. Following the sale, the director owned 55,578,057 shares of the company’s stock, valued at $276,222,943.29. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $6.09, for a total value of $380,625.00.
• On Wednesday, September 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The stock was sold at an average price of $6.68, for a total value of $417,500.00.
• On Thursday, August 13th, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The stock was sold at an average price of $7.96, for a total value of $497,500.00.

Joby Aviation Stock Performance

Shares of Joby Aviation stock traded up $0.04 during trading on Tuesday, reaching $4.84. The company’s stock had a trading volume of 11,089,195 shares, compared to its average volume of 30,184,814. The business’s 50-day moving average price is $5.88 and its 200-day moving average price is $8.64. Joby Aviation, Inc. has a 52 week low of $4.43 and a 52 week high of $17.10. The firm has a market cap of $4.79 billion, a PE ratio of -4.89 and a beta of 2.66. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%. The business had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 257493.3% compared to the same quarter last year. Equities analysts forecast that Joby Aviation, Inc. will post -1.00 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its stake in shares of Joby Aviation by 14.1% in the third quarter. Pictet Asset Management Holding SA now owns 39,640 shares of the company’s stock worth $240,000 after purchasing an additional 4,896 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Joby Aviation by 42.5% in the 3rd quarter. Parallel Advisors LLC now owns 8,597 shares of the company’s stock valued at $52,000 after purchasing an additional 2,562 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Joby Aviation during the third quarter worth $76,000. Kestra Advisory Services LLC lifted its holdings in Joby Aviation by 65.4% in the third quarter. Kestra Advisory Services LLC now owns 95,658 shares of the company’s stock valued at $579,000 after buying an additional 37,840 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new position in Joby Aviation in the third quarter valued at $74,000. Institutional investors own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of research analyst reports. Susquehanna set a $18.00 target price on Joby Aviation in a report on Thursday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of Joby Aviation in a research note on Monday, September 21st. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Monday, September 21st. Barclays started coverage on shares of Joby Aviation in a research note on Friday, October 9th. They issued an “underweight” rating and a $4.00 price target on the stock. Finally, Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $12.39.

Joby Aviation Company Profile

Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.

Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.