Joeben Bevirt Sells 1,655 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 1,655 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $8.35, for a total value of $13,819.25. Following the sale, the chief executive officer now owns 771,202 shares in the company, valued at $6,439,536.70. The trade was a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Joeben Bevirt also recently made the following trade(s):

• On Monday, January 6th, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00.
• On Thursday, January 2nd, Joeben Bevirt sold 23,886 shares of Joby Aviation stock. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88.

Joby Aviation Stock Performance

Joby Aviation stock traded up $0.28 during trading on Thursday, reaching $8.38. The company had a trading volume of 12,224,554 shares, compared to its average volume of 18,263,623. The firm’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $6.29. The firm has a market capitalization of $6.41 billion, a PE ratio of -11.96 and a beta of 2.33. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the firm earned ($0.13) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JOBY. Needham & Company LLC boosted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Canaccord Genuity Group lifted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in Joby Aviation by 67.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock valued at $522,000 after buying an additional 41,128 shares in the last quarter. Rhumbline Advisers increased its position in Joby Aviation by 26.7% during 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. Choreo LLC purchased a new position in Joby Aviation during the second quarter worth about $60,000. Amalgamated Bank boosted its holdings in Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Joby Aviation by 142.4% in the 2nd 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 during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.