Eric Allison Sells 6,715 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 6,715 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $112,677.70. Following the completion of the sale, the insider directly owned 666,416 shares in the company, valued at approximately $11,182,460.48. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Eric Allison also recently made the following trade(s):

• On Monday, July 14th, Eric Allison sold 27,538 shares of Joby Aviation stock. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86.

Joby Aviation Trading Up 2.6%

Joby Aviation stock opened at $18.26 on Monday. The firm has a market cap of $15.63 billion, a P/E ratio of -17.06 and a beta of 2.52. Joby Aviation, Inc. has a 1-year low of $4.80 and a 1-year high of $20.95. The firm has a 50-day moving average of $15.70 and a 200-day moving average of $11.02.

Joby Aviation (NYSE:JOBY) last announced its quarterly 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 company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. Joby Aviation’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

JOBY has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of 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 downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group lowered shares of 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 report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $10.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in Joby Aviation during the 4th quarter valued at about $121,000. GAMMA Investing LLC lifted its holdings in shares of Joby Aviation by 5,161.0% during the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock valued at $205,000 after purchasing an additional 33,443 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Joby Aviation by 70.4% in the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after buying an additional 126,908 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Joby Aviation by 16.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company’s stock valued at $3,050,000 after buying an additional 71,695 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.

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.