Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $140,448.37 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,593 shares of the company’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $5.09, for a total value of $140,448.37. Following the completion of the sale, the insider owned 745,120 shares of the company’s stock, valued at approximately $3,792,660.80. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, October 2nd, Eric Allison sold 9,331 shares of Joby Aviation stock. The shares were sold at an average price of $5.95, for a total transaction of $55,519.45.

Joby Aviation Trading Down 3.0%

JOBY traded down $0.14 on Friday, hitting $4.67. The company had a trading volume of 16,408,512 shares, compared to its average volume of 23,668,380. Joby Aviation, Inc. has a 1 year low of $4.43 and a 1 year high of $17.50. The company’s fifty day moving average price is $6.55 and its 200 day moving average price is $8.19. The firm has a market cap of $4.61 billion, a P/E ratio of -4.71 and a beta of 2.66. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The firm had revenue of $38.64 million during the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the prior year, the firm posted ($0.41) EPS. Joby Aviation’s quarterly revenue was up 257493.3% compared to the same quarter last year. As a group, equities analysts expect that Joby Aviation, Inc. will post -1.00 earnings per share for the current year.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $28,000. Ancora Advisors LLC acquired a new stake in Joby Aviation during the second quarter worth about $27,000. Leonteq Securities AG lifted its holdings in Joby Aviation by 295.2% in the first quarter. Leonteq Securities AG now owns 4,351 shares of the company’s stock worth $36,000 after acquiring an additional 3,250 shares during the last quarter. Western Wealth Management LLC bought a new position in Joby Aviation in the first quarter worth about $37,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Joby Aviation by 95.5% in the first quarter. Geneos Wealth Management Inc. now owns 5,385 shares of the company’s stock worth $44,000 after acquiring an additional 2,630 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JOBY shares. Morgan Stanley set a $10.00 price objective on Joby Aviation in a report on Friday. Cantor Fitzgerald reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, September 21st. Susquehanna set a $18.00 target price on Joby Aviation in a research report on Thursday, August 6th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Monday, September 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Monday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.39.

About Joby Aviation

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.