Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt Sells 250,000 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares of the company’s stock, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Joeben Bevirt also recently made the following trade(s):

• On Thursday, January 2nd, Joeben Bevirt sold 23,886 shares of Joby Aviation stock. The shares were sold at an average price of $8.08, for a total value of $192,998.88.

Joby Aviation Trading Up 4.5 %

Shares of NYSE:JOBY opened at $10.27 on Wednesday. The firm has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $6.13. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The company has a market capitalization of $7.86 billion, a PE ratio of -14.67 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results 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). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the firm earned ($0.13) earnings per share. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Joby Aviation

A number of large investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the period. Empowered Funds LLC purchased a new position in shares of Joby Aviation during the third quarter worth approximately $51,000. Sound Income Strategies LLC increased its holdings in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after acquiring an additional 9,188 shares during the period. Finally, Choreo LLC purchased a new stake in Joby Aviation in the 2nd quarter valued at $60,000. 52.85% of the stock is 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.