Joby Aviation (NYSE:JOBY) Shares Down 0.4% After Insider Selling

Joby Aviation, Inc. (NYSE:JOBYGet Free Report)’s share price fell 0.4% on Wednesday following insider selling activity. The company traded as low as $5.08 and last traded at $5.09. 711,363 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,036,769 shares. The stock had previously closed at $5.11.

Specifically, insider Eric Allison sold 19,393 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $4.70, for a total transaction of $91,147.10. Following the completion of the transaction, the insider now owns 422,592 shares in the company, valued at approximately $1,986,182.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Matthew Field sold 5,642 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the sale, the insider now owns 294,238 shares in the company, valued at $1,527,095.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Allison sold 19,393 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $4.70, for a total value of $91,147.10. Following the completion of the sale, the insider now owns 422,592 shares of the company’s stock, valued at approximately $1,986,182.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 354,975 shares of company stock worth $1,733,124. 32.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, July 1st. JPMorgan Chase & Co. raised Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, May 3rd.

Get Our Latest Analysis on Joby Aviation

Joby Aviation Stock Up 1.6 %

The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -6.82 and a beta of 2.00. The firm has a 50-day moving average of $5.04 and a two-hundred day moving average of $5.38.

Joby Aviation (NYSE:JOBYGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The business’s revenue for the quarter was down 97.5% on a year-over-year basis. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JOBY. DNB Asset Management AS boosted its stake in shares of Joby Aviation by 21.1% during the 2nd quarter. DNB Asset Management AS now owns 88,906 shares of the company’s stock worth $453,000 after acquiring an additional 15,504 shares in the last quarter. Cetera Advisors LLC boosted its stake in Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Joby Aviation by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after purchasing an additional 10,234 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Joby Aviation during the 1st quarter valued at approximately $15,357,000. Finally, Vanguard Group Inc. boosted its stake in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

About Joby Aviation

(Get Free Report)

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.

Further Reading

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