Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 1,835 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $14,826.80. Following the completion of the sale, the insider now directly owns 45,434 shares of the company’s stock, valued at approximately $367,106.72. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Joby Aviation Price Performance

JOBY stock traded up $1.68 during trading on Friday, reaching $9.77. 29,006,756 shares of the company were exchanged, compared to its average volume of 20,730,629. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32. The company has a 50-day moving average of $7.18 and a two-hundred day moving average of $6.04. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $9.82.

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 business 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 earned ($0.13) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JOBY. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Finally, Needham & Company LLC began coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Institutional Trading of Joby Aviation

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased its position in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC grew its stake in shares of Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares in the last quarter. Amalgamated Bank lifted its position in shares of Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

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.