Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $62,722.40 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 7,696 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $62,722.40. Following the transaction, the insider directly owned 217,475 shares in the company, valued at $1,772,421.25. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Joby Aviation Stock Down 0.0%

JOBY stock opened at $8.50 on Monday. The company has a 50 day moving average of $9.92 and a two-hundred day moving average of $13.42. The company has a market cap of $7.75 billion, a price-to-earnings ratio of -7.45 and a beta of 2.68. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to analysts’ expectations of $16.88 million. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. The company’s revenue was up 5506.5% on a year-over-year basis. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Joby Aviation by 13.2% during the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after buying an additional 5,828,189 shares in the last quarter. Man Group plc bought a new stake in shares of Joby Aviation during the 3rd quarter worth about $40,283,000. Norges Bank acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $32,269,000. Clear Street Group Inc. acquired a new position in shares of Joby Aviation during the 3rd quarter valued at about $36,264,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Joby Aviation by 80.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock valued at $44,672,000 after acquiring an additional 1,512,094 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on JOBY. Oppenheimer set a $18.00 target price on Joby Aviation in a research note on Thursday, February 26th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a research note on Tuesday, February 3rd. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Needham & Company LLC dropped their price objective on Joby Aviation to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.