Paul Cahill Sciarra Sells 166,667 Shares of Joby Aviation, Inc. (NYSE:JOBY) 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 shares were sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the sale, the director now owns 58,494,728 shares of the company’s stock, valued at $396,594,255.84. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $8.02, for a total value 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 transaction of $2,666,656.00.

Joby Aviation Stock Down 2.2 %

NYSE:JOBY opened at $6.43 on Friday. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -9.18 and a beta of 2.35. The company’s 50 day moving average price is $7.29 and its 200-day moving average price is $6.91. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Institutional Trading of Joby Aviation

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. Whittier Trust Co. bought a new position in Joby Aviation during the 4th quarter valued at about $38,000. Salem Investment Counselors Inc. lifted its stake in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation during the 4th quarter valued at about $41,000. Finally, Toronto Dominion Bank bought a new stake in shares of Joby Aviation in the fourth quarter worth approximately $41,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JOBY shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

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.