Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 250,000 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total value of $2,460,000.00. Following the transaction, the chief executive officer now directly owns 32,325,793 shares of the company’s stock, valued at approximately $318,085,803.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Joeben Bevirt also recently made the following trade(s):

• On Thursday, January 2nd, Joeben Bevirt sold 23,886 shares of Joby Aviation stock. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88.

Joby Aviation Stock Up 4.5 %

NYSE JOBY traded up $0.44 on Tuesday, reaching $10.27. The company had a trading volume of 26,796,148 shares, compared to its average volume of 21,867,633. The stock has a market capitalization of $7.86 billion, a P/E ratio of -14.67 and a beta of 2.33. The company’s fifty day moving average is $7.27 and its 200 day moving average is $6.09. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY) last issued its quarterly 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 business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the previous year, the business posted ($0.13) earnings per share. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Joby Aviation

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the last quarter. Kensington Investment Counsel LLC raised its position in shares of Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after purchasing an additional 3,653 shares during the period. Amalgamated Bank lifted its stake in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after buying an additional 4,391 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

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