Joby Aviation (NYSE:JOBY) Insider Bonny Simi Sells 8,272 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 8,272 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $138,804.16. Following the sale, the insider owned 219,206 shares of the company’s stock, valued at $3,678,276.68. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Joby Aviation Stock Up 2.6%

Joby Aviation stock opened at $18.26 on Monday. Joby Aviation, Inc. has a twelve month low of $4.80 and a twelve month high of $20.95. The firm has a 50 day moving average price of $15.70 and a 200-day moving average price of $11.02. The company has a market capitalization of $15.63 billion, a P/E ratio of -17.06 and a beta of 2.52.

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

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the company. Toyota Motor Corp grew its stake in Joby Aviation by 63.1% during the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Joby Aviation by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after purchasing an additional 573,328 shares during the period. State Street Corp grew its position in shares of Joby Aviation by 3.0% during the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after purchasing an additional 305,109 shares in the last quarter. Rheos Capital Works Inc. increased its holdings in shares of Joby Aviation by 58.2% in 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 during the period. Finally, ARK Investment Management LLC increased its holdings in shares of Joby Aviation by 1.9% in 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 during the period. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on JOBY shares. Canaccord Genuity Group cut Joby Aviation from a “buy” rating to a “hold” rating and upped their price target for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. HC Wainwright lowered shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $10.50.

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.