Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 6,715 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 6,715 shares of Joby Aviation stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total transaction of $112,677.70. Following the sale, the insider directly owned 666,416 shares in the company, valued at approximately $11,182,460.48. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Eric Allison also recently made the following trade(s):

• On Monday, July 14th, Eric Allison sold 27,538 shares of Joby Aviation stock. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86.

Joby Aviation Stock Up 2.6%

Shares of NYSE JOBY opened at $18.26 on Friday. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of -17.06 and a beta of 2.52. Joby Aviation, Inc. has a 52-week low of $4.80 and a 52-week high of $20.95. The business’s 50 day moving average is $15.70 and its two-hundred day moving average is $10.95.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. The firm’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of JOBY. Toyota Motor Corp grew its stake 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 worth $1,355,194,000 after acquiring an additional 49,701,790 shares in the last quarter. Nuveen LLC acquired a new position in shares of Joby Aviation in the first quarter worth $18,936,000. Rheos Capital Works Inc. grew its stake 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 worth $76,013,000 after acquiring an additional 2,650,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Joby Aviation in the second quarter worth $15,392,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Joby Aviation during the second quarter worth $12,471,000. Institutional investors and hedge funds own 52.85% 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.