Bonny W. Simi Sells 31,489 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 31,489 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the transaction, the insider now owns 137,097 shares in the company, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joby Aviation Stock Performance

Shares of Joby Aviation stock traded up $0.88 during midday trading on Tuesday, hitting $9.05. 13,555,754 shares of the company traded hands, compared to its average volume of 17,175,477. The firm’s fifty day moving average price is $7.97 and its 200-day moving average price is $6.35. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -12.93 and a beta of 2.33. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the previous year, the firm posted ($0.13) EPS. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares during the last quarter. State Street Corp increased its stake in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the period. Holocene Advisors LP raised its holdings in Joby Aviation by 91.7% in the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock valued at $2,622,000 after buying an additional 249,375 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Joby Aviation by 15.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock worth $1,342,000 after buying an additional 34,866 shares during the period. Institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on JOBY. Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC raised their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

About Joby Aviation

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.