Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 31,489 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the transaction, the insider now directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. This represents a 18.68 % 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.

Joby Aviation Stock Performance

Shares of JOBY stock traded up $0.88 during trading hours on Tuesday, hitting $9.05. 13,555,754 shares of the company were exchanged, compared to its average volume of 17,175,477. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The company has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $6.35. The firm has a market cap of $6.93 billion, a P/E ratio of -12.93 and a beta of 2.33.

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 the consensus estimate 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 period last year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group boosted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC increased their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings 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 acquiring an additional 812,248 shares in the last quarter. Geode Capital Management LLC grew its position in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in Joby Aviation by 1,018.5% during the 2nd 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 in the last quarter. Holocene Advisors LP raised its holdings in Joby Aviation by 91.7% during the third quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after buying an additional 249,375 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new position in shares of Joby Aviation in the fourth quarter valued at $1,362,000. Institutional investors own 52.85% of the company’s stock.

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.