Joby Aviation, Inc. (NYSE:JOBY) Insider Sergey Novikov Sells 1,835 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $14,826.80. Following the sale, the insider now owns 45,434 shares in the company, valued at approximately $367,106.72. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Joby Aviation Stock Performance

Shares of JOBY opened at $9.77 on Friday. The firm has a fifty day moving average of $7.18 and a 200-day moving average of $6.04. The company has a market cap of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $9.82.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter last year, the company posted ($0.13) EPS. Analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Needham & Company LLC started coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Institutional Trading of Joby Aviation

Large investors have recently added to or reduced their stakes in the business. Ieq Capital LLC boosted its position in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after acquiring an additional 1,807,054 shares during the period. State Street Corp lifted its holdings in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares during the period. Geode Capital Management LLC grew its position in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Joby Aviation by 1,018.5% during the 2nd 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Joby Aviation by 41.8% during 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 buying an additional 435,069 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.