Joeben Bevirt Sells 32,284 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 32,284 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $541,725.52. Following the sale, the chief executive officer owned 249,587 shares of the company’s stock, valued at approximately $4,188,069.86. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 1st, Joeben Bevirt sold 253,600 shares of Joby Aviation stock. The shares were sold at an average price of $16.29, for a total value of $4,131,144.00.
• On Wednesday, October 1st, Joeben Bevirt sold 172,400 shares of Joby Aviation stock. The stock was sold at an average price of $16.29, for a total value of $2,808,396.00.

Joby Aviation Trading Up 2.6%

JOBY stock opened at $18.26 on Friday. The firm has a 50-day moving average price of $15.70 and a 200-day moving average price of $10.99. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95. The stock 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 released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (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 analyst estimates of $0.05 million. Joby Aviation’s quarterly revenue was down 94.6% compared to the same quarter last year. During the same period last year, the company posted ($0.18) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. GAMMA Investing LLC lifted its stake in shares of Joby Aviation by 16.1% in the third quarter. GAMMA Investing LLC now owns 5,969 shares of the company’s stock worth $96,000 after acquiring an additional 827 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Joby Aviation during the 2nd quarter valued at approximately $461,000. Squarepoint Ops LLC raised its holdings in Joby Aviation by 36,302.4% during the 2nd quarter. Squarepoint Ops LLC now owns 760,251 shares of the company’s stock worth $8,021,000 after purchasing an additional 762,351 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Joby Aviation in the 2nd quarter worth approximately $168,000. Finally, Nautilus Advisors LLC bought a new stake in shares of Joby Aviation in the 2nd quarter valued at $119,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

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