Sergey Novikov Sells 1,835 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of Joby Aviation stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $14,826.80. Following the completion of the sale, the insider now owns 45,434 shares in the company, valued at approximately $367,106.72. This trade represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $9.77 on Friday. The firm’s 50-day moving average is $7.18 and its two-hundred day moving average is $6.04. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $9.82. The company has a market capitalization of $7.47 billion, a PE ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the company posted ($0.13) EPS. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ieq Capital LLC boosted its stake in shares of Joby Aviation by 68.6% during the 2nd 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 last quarter. State Street Corp lifted its stake in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Geode Capital Management LLC boosted its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after acquiring an additional 616,579 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Ratings Changes

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

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.