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 Joby Aviation stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the transaction, the director now owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. This represents a 0.28 % decrease in their ownership of the stock. The transaction 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 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 stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00.

Joby Aviation Trading Down 1.4 %

JOBY stock traded down $0.10 during midday trading on Wednesday, hitting $6.57. The stock had a trading volume of 9,399,334 shares, compared to its average volume of 12,802,674. The business has a fifty day moving average price of $7.36 and a two-hundred 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. The firm has a market cap of $5.17 billion, a P/E ratio of -9.38 and a beta of 2.35.

Hedge Funds Weigh In On Joby Aviation

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JOBY shares. Canaccord Genuity Group raised their target price 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. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given 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 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.