Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Director Sells 166,666 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 166,666 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Joby Aviation Trading Up 27.9 %

NYSE:JOBY traded up $1.34 during trading hours on Wednesday, hitting $6.14. 70,725,050 shares of the stock were exchanged, compared to its average volume of 5,875,340. The company has a market cap of $4.40 billion, a P/E ratio of -7.89 and a beta of 1.97. The firm’s fifty day moving average price is $5.23 and its 200 day moving average price is $5.21. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $7.69.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on JOBY shares. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday. Finally, Canaccord Genuity Group decreased their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Institutional Trading of Joby Aviation

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares in the last quarter. Ieq Capital LLC raised its stake in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Joby Aviation in the 1st quarter valued at about $15,357,000. Bank of New York Mellon Corp grew its stake in shares of Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after buying an additional 435,069 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.