Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells $13,819.25 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 1,655 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $8.35, for a total value of $13,819.25. Following the completion of the sale, the chief executive officer now directly owns 771,202 shares in the company, valued at approximately $6,439,536.70. The trade was a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, January 6th, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00.
• 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 value of $192,998.88.

Joby Aviation Stock Performance

Shares of JOBY opened at $8.18 on Friday. The firm’s fifty day simple moving average is $7.94 and its 200-day simple moving average is $6.32. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72.

Joby Aviation (NYSE:JOBY) last posted its quarterly 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). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its position in shares of Joby Aviation by 218.3% during 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 last quarter. Salem Investment Counselors Inc. lifted its position in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC acquired a new position in Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC grew its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after purchasing an additional 9,188 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on JOBY shares. JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC upped their price objective on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

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.