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 company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at $159,039,971.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, April 18th, Joeben Bevirt sold 5,448 shares of Joby Aviation stock. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72.

Joby Aviation Trading Up 0.2 %

Shares of NYSE JOBY opened at $5.16 on Friday. The firm has a market capitalization of $3.66 billion, a PE ratio of -6.79 and a beta of 2.00. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.96. The firm’s 50-day moving average is $5.04 and its 200-day moving average is $5.42.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. During the same period last year, the business posted ($0.16) EPS. The firm’s revenue for the quarter was down 97.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its stake in Joby Aviation by 18.1% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,317 shares of the company’s stock valued at $135,000 after buying an additional 3,120 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after purchasing an additional 3,942 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Joby Aviation by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company’s stock valued at $730,000 after acquiring an additional 4,445 shares during the period. Cetera Advisors LLC boosted its position in shares of Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after acquiring an additional 5,025 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its holdings in Joby Aviation by 3.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 150,393 shares of the company’s stock valued at $1,000,000 after buying an additional 5,704 shares during the period. Institutional investors own 45.54% of the company’s stock.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, July 1st. JPMorgan Chase & Co. upgraded shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, May 3rd.

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.