Joby Aviation, Inc. (NYSE:JOBY) CEO Sells $192,998.88 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total transaction of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Joby Aviation Stock Performance

JOBY stock opened at $9.77 on Friday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $9.82. The stock has a fifty day moving average of $7.18 and a 200-day moving average of $6.04. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last posted its 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 business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business earned ($0.13) EPS. Equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Everence Capital Management Inc. purchased a new position in shares of Joby Aviation in the fourth quarter valued at $142,000. Tidal Investments LLC increased its position in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after buying an additional 3,522 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. Kensington Investment Counsel LLC grew 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 valued at $172,000 after acquiring an additional 3,653 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in Joby Aviation by 15.4% during 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 during the period. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.