Bonny W. Simi Sells 31,489 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $8.77 on Thursday. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The company has a 50-day simple moving average of $8.03 and a 200-day simple moving average of $6.38. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -12.52 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JOBY has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group upped their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC lifted their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in JOBY. Intech Investment Management LLC acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $518,000. Fred Alger Management LLC lifted its position in shares of Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after acquiring an additional 58,229 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in shares of Joby Aviation during the 4th quarter worth approximately $418,000. Caprock Group LLC grew its holdings in Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after purchasing an additional 79,896 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares in the last quarter. Hedge funds and other 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.