Joby Aviation (NYSE:JOBY) CEO Sells $541,725.52 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 32,284 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $541,725.52. Following the sale, the chief executive officer owned 249,587 shares of the company’s stock, valued at $4,188,069.86. This trade represents a 11.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

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

Joby Aviation Stock Up 2.6%

Shares of Joby Aviation stock opened at $18.26 on Monday. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of -17.06 and a beta of 2.52. Joby Aviation, Inc. has a 52-week low of $4.80 and a 52-week high of $20.95. The company’s 50-day simple moving average is $15.70 and its 200-day simple moving average is $11.02.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. The company’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) EPS. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on JOBY shares. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Saturday, September 27th. Canaccord Genuity Group downgraded shares of 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 report on Thursday, August 7th. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently 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 stock. EverSource Wealth Advisors LLC grew its holdings in Joby Aviation by 284.8% during 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 last quarter. GPS Wealth Strategies Group LLC lifted its position in shares of Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at $39,000. Solstein Capital LLC purchased a new stake in Joby Aviation during the 2nd quarter worth about $47,000. Finally, Laurel Wealth Advisors LLC raised its stake in 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 purchasing an additional 4,860 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.