Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt Sells 250,000 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $192,998.88.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $9.52 on Thursday. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The firm has a market cap of $7.28 billion, a PE ratio of -13.60 and a beta of 2.33. The firm’s fifty day moving average is $7.46 and its 200-day moving average is $6.15.

Joby Aviation (NYSE:JOBY) last released 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). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate 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 last year, the firm posted ($0.13) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JOBY shares. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Needham & Company LLC began coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.70.

Institutional Trading of Joby Aviation

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

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.