Insider Selling: Joby Aviation (NYSE:JOBY) CEO Sells $16,774.50 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 1,590 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.55, for a total value of $16,774.50. Following the completion of the transaction, the chief executive officer directly owned 294,336 shares of the company’s stock, valued at approximately $3,105,244.80. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 9th, Joeben Bevirt sold 507,182 shares of Joby Aviation stock. The stock was sold at an average price of $10.62, for a total value of $5,386,272.84.
• On Tuesday, January 13th, Joeben Bevirt sold 1,630 shares of Joby Aviation stock. The shares were sold at an average price of $14.83, for a total transaction of $24,172.90.
• On Friday, January 2nd, Joeben Bevirt sold 23,552 shares of Joby Aviation stock. The shares were sold at an average price of $13.51, for a total transaction of $318,187.52.

Joby Aviation Stock Performance

JOBY stock opened at $9.90 on Friday. The company’s fifty day moving average price is $13.52 and its 200-day moving average price is $14.90. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95. The company has a market capitalization of $9.02 billion, a PE ratio of -7.39 and a beta of 2.57.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JOBY. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group began coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. Canaccord Genuity Group reiterated a “hold” rating and set a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Reduce” and an average target price of $13.21.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Toyota Motor Corp lifted its position in Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after buying an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock worth $155,671,000 after acquiring an additional 390,794 shares during the last quarter. State Street Corp boosted its stake in shares of Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock worth $142,731,000 after purchasing an additional 512,129 shares during the period. Finally, Rheos Capital Works Inc. boosted its stake in shares of Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after purchasing an additional 2,650,000 shares during the period. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.