Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 31,489 Shares of Stock

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

Joby Aviation Stock Performance

JOBY opened at $8.77 on Thursday. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The company’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $6.38. The stock has a market capitalization of $6.71 billion, a PE ratio of -12.52 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOBY. Amalgamated Bank grew its holdings in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after purchasing an additional 4,391 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Joby Aviation by 142.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,200 shares of the company’s stock valued at $129,000 after buying an additional 14,805 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Joby Aviation by 27.9% in the second quarter. Hsbc Holdings PLC now owns 160,151 shares of the company’s stock worth $802,000 after acquiring an additional 34,890 shares in the last quarter. Xponance Inc. raised its stake in shares of Joby Aviation by 52.0% in the 2nd quarter. Xponance Inc. now owns 25,614 shares of the company’s stock valued at $131,000 after acquiring an additional 8,759 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock valued at $1,266,000 after acquiring an additional 55,340 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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