Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 13,789 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 13,789 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $231,379.42. Following the completion of the sale, the insider directly owned 162,390 shares in the company, valued at $2,724,904.20. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 22nd, Kate Dehoff sold 52,907 shares of Joby Aviation stock. The shares were sold at an average price of $15.76, for a total value of $833,814.32.
• 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 value 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.

Joby Aviation Trading Up 2.6%

Shares of JOBY stock opened at $18.26 on Friday. The business’s 50-day moving average price is $15.70 and its 200-day moving average price is $10.99. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of -17.06 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The company’s quarterly revenue was down 94.6% on a year-over-year basis. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $10.50.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Joby Aviation in the fourth quarter worth approximately $121,000. GAMMA Investing LLC increased its holdings in Joby Aviation by 5,161.0% in the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after purchasing an additional 33,443 shares in the last quarter. California State Teachers Retirement System increased its holdings in Joby Aviation by 1.1% in the fourth 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 increased its holdings in Joby Aviation by 70.4% in the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after purchasing an additional 126,908 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Joby Aviation by 16.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company’s stock worth $3,050,000 after purchasing 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.