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 stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the sale, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Joby Aviation Stock Down 1.1 %

NYSE:JOBY opened at $8.68 on Friday. The stock’s 50 day moving average price is $8.09 and its 200 day moving average price is $6.39. The company has a market capitalization of $6.64 billion, a PE ratio of -12.39 and a beta of 2.33. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million for 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 prior year, the business earned ($0.13) EPS. As a group, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bouvel Investment Partners LLC grew its stake in shares of Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,715 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the last quarter. Kensington Investment Counsel LLC grew its stake in shares of Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after purchasing an additional 3,653 shares during the last quarter. Amalgamated Bank grew its stake in shares of Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JOBY. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price target for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC raised their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

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.