Joby Aviation, Inc. (NYSE:JOBY) Insider Bonny W. Simi Sells 173,456 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 173,456 shares of Joby Aviation stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the completion of the sale, the insider directly owned 211,397 shares of the company’s stock, valued at approximately $3,646,598.25. This trade represents a 45.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Joby Aviation Price Performance

Shares of JOBY stock opened at $17.02 on Tuesday. Joby Aviation, Inc. has a 1 year low of $4.70 and a 1 year high of $20.95. The firm has a fifty day moving average price of $12.70 and a 200-day moving average price of $8.85. The company has a market cap of $13.48 billion, a price-to-earnings ratio of -15.91 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the previous year, the firm earned ($0.18) EPS. The company’s revenue was down 94.6% on a year-over-year basis. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its stake in shares of 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 buying an additional 750 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after buying an additional 5,015 shares in the last quarter. Strs Ohio purchased a new position in shares of Joby Aviation during the 1st quarter valued at $37,000. Ameritas Advisory Services LLC purchased a new position in shares of Joby Aviation during the 2nd quarter valued at $39,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. HC Wainwright downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

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.