Joeben Bevirt Sells 23,886 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 23,886 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now owns 768,293 shares of the company’s stock, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $9.77 on Friday. The business has a 50-day simple moving average of $7.18 and a 200 day simple moving average of $6.04. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $9.82. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JOBY. Larson Financial Group LLC raised its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation in the third quarter worth approximately $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after buying an additional 9,188 shares during the last quarter. Finally, Choreo LLC purchased a new stake in Joby Aviation in the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.