Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 2,899 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 2,899 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $7.00, for a total value of $20,293.00. Following the transaction, the insider now owns 72,695 shares in the company, valued at approximately $508,865. This trade represents a 3.83% 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 the SEC website.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.15 on Thursday. The business’s 50-day simple moving average is $6.23 and its two-hundred day simple moving average is $7.08. The company has a market cap of $5.63 billion, a PE ratio of -10.21 and a beta of 2.34. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the previous year, the firm posted ($0.14) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JOBY shares. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, April 30th. Morgan Stanley restated an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Joby Aviation from $11.50 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Toyota Motor Corp acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $640,259,000. Uber Technologies Inc acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $207,842,000. Vanguard Group Inc. lifted its holdings in shares of Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after buying an additional 6,388,232 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after buying an additional 3,272,597 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Joby Aviation in the 1st quarter valued at about $18,936,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.