Joby Aviation, Inc. (NYSE:JOBY) Insider Eric Allison Sells 27,817 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,817 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $5.56, for a total transaction of $154,662.52. Following the completion of the sale, the insider now owns 463,151 shares of the company’s stock, valued at $2,575,119.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Joby Aviation Price Performance

Joby Aviation stock opened at $5.42 on Wednesday. The stock has a market capitalization of $3.84 billion, a P/E ratio of -7.13 and a beta of 1.97. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $7.69. The firm’s 50-day moving average is $5.22 and its two-hundred day moving average is $5.24.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group restated a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a report on Friday, October 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Susquehanna Fundamental Investments LLC boosted its stake in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Joby Aviation by 215.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after acquiring an additional 270,794 shares during the last quarter. Rhumbline Advisers grew its holdings in Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after purchasing an additional 115,483 shares during the period. Vanguard Group Inc. increased its position in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Joby Aviation by 84.3% during the first quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after purchasing an additional 92,508 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.