Insider Selling: Joby Aviation (NYSE:JOBY) CEO Sells $24,172.90 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 1,630 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.83, for a total value of $24,172.90. Following the sale, the chief executive officer owned 291,555 shares of the company’s stock, valued at approximately $4,323,760.65. This represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 2nd, Joeben Bevirt sold 23,552 shares of Joby Aviation stock. The stock was sold at an average price of $13.51, for a total value of $318,187.52.

Joby Aviation Trading Up 0.9%

NYSE JOBY opened at $15.42 on Friday. The company has a market cap of $14.06 billion, a P/E ratio of -11.51 and a beta of 2.56. The company has a fifty day simple moving average of $14.56 and a 200 day simple moving average of $15.20. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter last year, the firm posted ($0.21) EPS. The company’s revenue was up 7962.1% on a year-over-year basis. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Royal Bank of Canada raised its holdings in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the period. AQR Capital Management LLC purchased a new stake in Joby Aviation in the first quarter worth $273,000. Intech Investment Management LLC increased its position in Joby Aviation by 70.4% in the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after buying an additional 126,908 shares during the last quarter. Strs Ohio bought a new stake in Joby Aviation in the 1st quarter valued at about $37,000. Finally, NBC Securities Inc. increased its stake in shares of Joby Aviation by 35.1% in the second quarter. NBC Securities Inc. now owns 142,855 shares of the company’s stock worth $1,507,000 after purchasing an additional 37,120 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Finally, Morgan Stanley raised their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.