Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 6,005 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Didier Papadopoulos also recently made the following trade(s):

• On Thursday, November 21st, Didier Papadopoulos sold 2,279 shares of Joby Aviation stock. The shares were sold at an average price of $7.00, for a total value of $15,953.00.

Joby Aviation Stock Up 3.3 %

JOBY traded up $0.26 on Tuesday, hitting $8.24. 15,934,746 shares of the company traded hands, compared to its average volume of 8,616,325. The company has a 50 day moving average of $6.50 and a 200-day moving average of $5.76. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $9.33. The stock has a market capitalization of $6.30 billion, a PE ratio of -11.77 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the company. 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 purchasing an additional 670,852 shares in the last quarter. State Street Corp grew its stake in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Ieq Capital LLC raised its position 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 acquiring an additional 1,807,054 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after purchasing an additional 435,069 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its position in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JOBY shares. 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. Canaccord Genuity Group reduced their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research 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. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has a consensus 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.