Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 23,886 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Joby Aviation Price Performance

JOBY stock opened at $9.77 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of -13.96 and a beta of 2.32. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $9.82. The business has a fifty day moving average price of $7.18 and a 200-day moving average price of $6.04.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. During the same period last year, the firm posted ($0.13) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in shares of Joby Aviation during the 3rd quarter valued at $518,000. Fred Alger Management LLC lifted its holdings in Joby Aviation by 89.4% in the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after acquiring an additional 58,229 shares during the period. Caprock Group LLC boosted its position in Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after purchasing an additional 79,896 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Finally, Holocene Advisors LP increased its position in shares of Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock valued at $2,622,000 after purchasing an additional 249,375 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JOBY. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.35.

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.