Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 26,775 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 26,775 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares in the company, valued at $92,699.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Joby Aviation Trading Up 0.5 %

Joby Aviation stock traded up $0.02 during mid-day trading on Tuesday, reaching $5.15. The company had a trading volume of 4,778,914 shares, compared to its average volume of 5,510,563. The business has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.21. The company has a market cap of $3.64 billion, a P/E ratio of -6.77 and a beta of 1.97. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $7.69.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company earned ($0.17) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group lowered their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright assumed coverage on Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares in the last quarter. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Joby Aviation during the first quarter valued at about $15,357,000. Lingotto Investment Management LLP increased its position in shares of Joby Aviation by 129.8% during the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after acquiring an additional 1,180,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after acquiring an additional 435,069 shares during the last quarter. Institutional investors own 45.54% 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.