Insider Selling: Joby Aviation (NYSE:JOBY) Director Sells 62,500 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 62,500 shares of Joby Aviation stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $7.96, for a total value of $497,500.00. Following the sale, the director directly owned 55,765,557 shares in the company, valued at approximately $443,893,833.72. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Thursday, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The shares were sold at an average price of $12.02, for a total value of $5,008,325.32.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded down $0.34 during trading hours on Friday, reaching $7.92. The stock had a trading volume of 26,147,891 shares, compared to its average volume of 32,879,594. Joby Aviation, Inc. has a twelve month low of $6.63 and a twelve month high of $19.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The business’s fifty day moving average is $8.38 and its two-hundred day moving average is $9.38. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 58.65%. Joby Aviation’s revenue was up 257493.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) earnings per share. As a group, research analysts expect that Joby Aviation, Inc. will post -1 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC raised its position in Joby Aviation by 2.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Joby Aviation by 38.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after buying an additional 1,188 shares in the last quarter. Strs Ohio increased its stake in shares of Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after buying an additional 1,200 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Joby Aviation by 8.1% in the third quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock valued at $269,000 after buying an additional 1,250 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Joby Aviation by 23.3% during the 3rd quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock worth $110,000 after buying an additional 1,295 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Canaccord Genuity Group dropped their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Susquehanna set a $18.00 price objective on Joby Aviation in a report on Thursday, August 6th. Morgan Stanley reduced their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, Barclays raised shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.