Joby Aviation (NYSE:JOBY) Insider Bonny Simi Sells 8,272 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 8,272 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $138,804.16. Following the transaction, the insider owned 219,206 shares of the company’s stock, valued at approximately $3,678,276.68. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Price Performance

Shares of JOBY opened at $18.26 on Friday. The company has a market cap of $15.63 billion, a P/E ratio of -17.06 and a beta of 2.52. The stock has a fifty day moving average price of $15.70 and a 200 day moving average price of $10.95. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Joby Aviation’s revenue was down 94.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JOBY. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Canaccord Genuity Group cut Joby Aviation from a “buy” rating to a “hold” rating and increased their price target for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, June 23rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $10.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Toyota Motor Corp lifted its holdings in shares of Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after buying an additional 49,701,790 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 5.4% in the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after buying an additional 573,328 shares during the period. State Street Corp lifted its holdings in shares of Joby Aviation by 3.0% in the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after buying an additional 305,109 shares during the period. Rheos Capital Works Inc. lifted its holdings in shares of Joby Aviation by 58.2% in the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after buying an additional 2,650,000 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in shares of Joby Aviation by 1.9% in the second quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock valued at $37,003,000 after buying an additional 64,562 shares during the period. Institutional investors own 52.85% of the company’s stock.

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.