Joby Aviation, Inc. (NYSE:JOBY) CEO Sells $1,212,500.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Joby Aviation Stock Down 8.7 %

Joby Aviation stock opened at $5.61 on Friday. The firm has a fifty day simple moving average of $5.22 and a two-hundred day simple moving average of $5.22. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $7.69. The company has a market capitalization of $3.97 billion, a PE ratio of -7.38 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the firm posted ($0.17) EPS. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Joby Aviation

A number of institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC raised its holdings in Joby Aviation by 1,018.5% during the 2nd 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Joby Aviation by 215.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after purchasing an additional 270,794 shares during the period. Rhumbline Advisers grew its stake in shares of Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after purchasing an additional 115,483 shares during the last quarter. Vanguard Group Inc. increased its holdings in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Joby Aviation by 84.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock valued at $1,084,000 after purchasing an additional 92,508 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group cut their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday.

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.