Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $62,722.40 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 7,696 shares of Joby Aviation stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $62,722.40. Following the transaction, the insider owned 217,475 shares of the company’s stock, valued at $1,772,421.25. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joby Aviation Trading Down 0.0%

Shares of JOBY traded down $0.00 on Friday, reaching $8.50. The company’s stock had a trading volume of 23,309,062 shares, compared to its average volume of 23,038,890. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95. The stock has a market capitalization of $7.75 billion, a PE ratio of -7.45 and a beta of 2.68. The firm has a fifty day moving average of $10.03 and a 200-day moving average of $13.47.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to analyst estimates of $16.88 million. Joby Aviation’s revenue for the quarter was up 5506.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) EPS. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares during the period. Asset Planning Inc raised its holdings in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Joby Aviation in the fourth quarter valued at approximately $28,000. Finally, Canton Hathaway LLC bought a new position in Joby Aviation during the third quarter valued at $29,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Canaccord Genuity Group reissued a “hold” rating and issued a $15.50 price target on shares of Joby Aviation in a research report on Tuesday, February 3rd. Needham & Company LLC reduced their target price on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. cut their target price on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Finally, Oppenheimer set a $18.00 price target on Joby Aviation in a research report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $13.81.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.