Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 5,102 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 5,102 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $18.08, for a total value of $92,244.16. Following the completion of the sale, the insider owned 98,104 shares in the company, valued at approximately $1,773,720.32. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Didier Papadopoulos also recently made the following trade(s):

• On Thursday, October 2nd, Didier Papadopoulos sold 15,439 shares of Joby Aviation stock. The shares were sold at an average price of $16.78, for a total value of $259,066.42.
• On Tuesday, September 16th, Didier Papadopoulos sold 1,979 shares of Joby Aviation stock. The shares were sold at an average price of $14.22, for a total value of $28,141.38.
• On Monday, September 15th, Didier Papadopoulos sold 5,987 shares of Joby Aviation stock. The shares were sold at an average price of $14.55, for a total value of $87,110.85.

Joby Aviation Price Performance

Joby Aviation stock opened at $18.26 on Friday. Joby Aviation, Inc. has a 1-year low of $4.80 and a 1-year high of $20.95. The stock has a market cap of $15.63 billion, a PE ratio of -17.06 and a beta of 2.52. The stock’s fifty day moving average is $15.70 and its two-hundred day moving average is $10.95.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the previous year, the company posted ($0.18) EPS. Joby Aviation’s quarterly revenue was down 94.6% compared to the same quarter last year. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Toyota Motor Corp increased its position in shares of Joby Aviation by 63.1% during the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after purchasing an additional 49,701,790 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Joby Aviation by 5.4% during the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after purchasing an additional 573,328 shares in the last quarter. State Street Corp increased its position in shares of Joby Aviation by 3.0% during the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock worth $109,636,000 after purchasing an additional 305,109 shares in the last quarter. Rheos Capital Works Inc. increased its position in shares of Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after purchasing an additional 2,650,000 shares in the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Joby Aviation by 1.9% during the second quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after purchasing an additional 64,562 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on JOBY. Cantor Fitzgerald restated a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. Canaccord Genuity Group cut Joby Aviation from a “buy” rating to a “hold” rating and raised their price target for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $10.50.

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.