Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $262,303.37 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction 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 trade represents a 18.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Joby Aviation Price Performance

JOBY opened at $9.05 on Wednesday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The business has a 50-day moving average of $7.97 and a two-hundred day moving average of $6.35. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -12.93 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analyst estimates 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 period last year, the company posted ($0.13) EPS. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Larson Financial Group LLC increased its stake in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. increased its position in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new position in Joby Aviation in the third quarter valued at approximately $51,000. Sound Income Strategies LLC lifted its position in Joby Aviation by 3,311.3% during the third 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 in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after buying an additional 9,188 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analysts Set New Price Targets

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

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.