Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 7,696 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 7,696 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $62,722.40. Following the completion of the sale, the insider directly owned 217,475 shares in the company, valued at approximately $1,772,421.25. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Joby Aviation Price Performance

Shares of JOBY traded down $0.00 during trading hours on Friday, hitting $8.50. 23,309,062 shares of the stock were exchanged, compared to its average volume of 23,038,890. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The business has a 50-day moving average of $10.03 and a 200-day moving average of $13.47. The firm has a market capitalization of $7.75 billion, a P/E ratio of -7.45 and a beta of 2.68.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $30.84 million during the quarter, compared to analyst estimates of $16.88 million. Joby Aviation’s quarterly revenue was up 5506.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) EPS. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares during the period. Asset Planning Inc grew its position in Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC grew its position in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the 4th quarter valued at $28,000. Finally, Canton Hathaway LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $29,000. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on JOBY. Oppenheimer set a $18.00 target price on Joby Aviation in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Canaccord Genuity Group reiterated a “hold” rating and set a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.