Joby Aviation (NYSE:JOBY) Trading Up 1.3%

Joby Aviation, Inc. (NYSE:JOBY) traded up 1.3% during trading on Friday . The stock traded as high as $6.57 and last traded at $6.26. 1,783,818 shares were traded during mid-day trading, a decline of 68% from the average session volume of 5,509,495 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

Several analysts recently issued reports on JOBY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday.

Joby Aviation Price Performance

The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -8.37 and a beta of 2.00. The business has a fifty day moving average of $5.36 and a 200 day moving average of $5.39.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. The business’s revenue for the quarter was down 97.5% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at $159,039,971.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Matthew Field sold 13,953 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the transaction, the insider now owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at $159,039,971.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,982 shares of company stock worth $1,713,310. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Joby Aviation by 20.6% in the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock valued at $220,143,000 after purchasing an additional 5,819,837 shares during the period. Baillie Gifford & Co. lifted its position in Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after acquiring an additional 5,267,436 shares during the period. New York State Common Retirement Fund grew its stake in shares of Joby Aviation by 8.1% in the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock valued at $760,000 after purchasing an additional 8,595 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Joby Aviation by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after purchasing an additional 64,404 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $77,000. 45.54% of the stock is 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.