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 dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the completion of the sale, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joby Aviation Stock Performance

Joby Aviation stock opened at $9.77 on Monday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $9.82. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32. The stock’s fifty day moving average is $7.18 and its two-hundred day moving average is $6.05.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analyst estimates 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 previous year, the company posted ($0.13) earnings per share. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC started coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and an average price target of $8.35.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in 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 buying an additional 5,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC raised its stake in Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after purchasing an additional 9,188 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Joby Aviation during the 2nd quarter worth about $60,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.