Joby Aviation (NYSE:JOBY) CEO Sells $3,755,268.73 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO JoeBen Bevirt sold 606,667 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $6.19, for a total transaction of $3,755,268.73. Following the completion of the sale, the chief executive officer owned 57,207,377 shares in the company, valued at approximately $354,113,663.63. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, JoeBen Bevirt sold 15,788 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $140,828.96.

Joby Aviation Stock Performance

Shares of JOBY stock traded up $0.10 during mid-day trading on Thursday, reaching $6.18. The stock had a trading volume of 23,350,091 shares, compared to its average volume of 31,904,195. The firm’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $8.77. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a one year low of $5.93 and a one year high of $19.98. The firm has a market cap of $6.12 billion, a PE ratio of -6.25 and a beta of 2.68.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business’s revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Barclays raised Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC lowered their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Joby Aviation currently has an average rating of “Reduce” and a consensus target price of $13.81.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently bought and sold shares of the business. Lingotto Investment Management LLP grew its holdings in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after purchasing an additional 799,260 shares during the period. Russell Investments Group Ltd. raised its stake in Joby Aviation by 30.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 352,874 shares of the company’s stock worth $3,148,000 after buying an additional 82,737 shares during the period. DNB Asset Management AS grew its stake in Joby Aviation by 16.3% in the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after acquiring an additional 51,344 shares during the period. Norges Bank acquired a new position in Joby Aviation in the fourth quarter valued at about $32,269,000. Finally, SummitTX Capital L.P. bought a new stake in shares of Joby Aviation in the first quarter worth about $1,127,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.