Joby Aviation (NYSE:JOBY) Insider Sells $833,814.32 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 52,907 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $15.76, for a total transaction of $833,814.32. Following the completion of the sale, the insider owned 149,369 shares of the company’s stock, valued at approximately $2,354,055.44. This trade represents a 26.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, July 15th, Kate Dehoff sold 20,823 shares of Joby Aviation stock. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41.
• 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 value 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 value of $135,417.80.

Joby Aviation Trading Down 4.3%

Shares of Joby Aviation stock opened at $16.00 on Thursday. Joby Aviation, Inc. has a 1 year low of $4.78 and a 1 year high of $20.95. The company has a market cap of $13.69 billion, a P/E ratio of -14.95 and a beta of 2.50. The stock has a 50-day moving average price of $15.81 and a 200 day moving average price of $10.45.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The company’s revenue was down 94.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) EPS. On average, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on JOBY shares. Wall Street Zen lowered shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and increased their price objective for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Joby Aviation presently has an average rating of “Hold” and an average price target of $10.50.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after acquiring an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after purchasing an additional 750 shares in the last quarter. Allworth Financial LP raised its position in Joby Aviation by 11.9% in the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after purchasing an additional 763 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in Joby Aviation by 2.6% in the second quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock worth $335,000 after purchasing an additional 800 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after purchasing an additional 821 shares during the last quarter. 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.