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 that occurred 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 sale, the chief executive officer now directly owns 32,325,793 shares of the company’s stock, valued at $318,085,803.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Joby Aviation Stock Performance

Joby Aviation stock opened at $9.52 on Friday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The firm’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $6.18. The stock has a market cap of $7.28 billion, a PE ratio of -13.60 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last released its earnings results 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). The business 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 in the prior year, the company earned ($0.13) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew 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 valued at $37,000 after acquiring an additional 5,000 shares during the period. Empowered Funds LLC bought a new stake in shares of Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC lifted its position in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after acquiring an additional 9,188 shares during the period. Finally, Choreo LLC purchased a new stake in Joby Aviation in the 2nd quarter worth about $60,000. Institutional investors 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.