Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $284,650.41 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 20,823 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41. Following the transaction, the insider owned 202,276 shares in the company, valued at $2,765,112.92. The trade was a 9.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Kate Dehoff also recently made the following trade(s):

• On Monday, July 14th, Kate Dehoff sold 8,262 shares of Joby Aviation stock. The shares were sold at an average price of $11.97, for a total transaction of $98,896.14.
• On Wednesday, July 2nd, Kate Dehoff sold 13,790 shares of Joby Aviation stock. The stock was sold at an average price of $9.82, for a total transaction of $135,417.80.

Joby Aviation Stock Up 8.9%

Joby Aviation stock opened at $17.78 on Friday. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $18.00. The business’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $7.81. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of -21.17 and a beta of 2.47.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same quarter in the previous year, the company posted ($0.14) EPS. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after acquiring an additional 5,015 shares during the period. Strs Ohio bought a new position in Joby Aviation during the 1st quarter valued at approximately $37,000. Whittier Trust Co. bought a new position in Joby Aviation during the 4th quarter valued at approximately $38,000. Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the 4th quarter worth approximately $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth approximately $41,000. 52.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JOBY. Morgan Stanley restated an “equal weight” rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Cantor Fitzgerald restated a “neutral” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. Wall Street Zen raised shares of Joby Aviation from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.33.

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.