Insider Selling: Joby Aviation (NYSE:JOBY) CEO Sells 32,284 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 32,284 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $541,725.52. Following the completion of the transaction, the chief executive officer directly owned 249,587 shares of the company’s stock, valued at approximately $4,188,069.86. This represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Joeben Bevirt also recently made the following trade(s):

• On Wednesday, October 1st, Joeben Bevirt sold 253,600 shares of Joby Aviation stock. The stock was sold at an average price of $16.29, for a total value of $4,131,144.00.
• On Wednesday, October 1st, Joeben Bevirt sold 172,400 shares of Joby Aviation stock. The stock was sold at an average price of $16.29, for a total value of $2,808,396.00.

Joby Aviation Stock Up 2.6%

Shares of JOBY opened at $18.26 on Friday. Joby Aviation, Inc. has a 52-week low of $4.80 and a 52-week high of $20.95. The company has a market capitalization of $15.63 billion, a PE ratio of -17.06 and a beta of 2.52. The stock has a fifty day simple moving average of $15.70 and a two-hundred day simple moving average of $10.95.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was down 94.6% on a year-over-year basis. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JOBY. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Saturday, September 27th. 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. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Finally, HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.50.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in shares of Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after buying an additional 750 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Joby Aviation in the 2nd quarter valued at about $39,000. Solstein Capital LLC purchased a new position in shares of Joby Aviation in the 2nd quarter valued at about $47,000. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 954.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company’s stock valued at $57,000 after buying an additional 4,860 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.