Joby Aviation, Inc. (NYSE:JOBY) CEO Sells $1,215,000.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the transaction, the chief executive officer now owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, April 18th, Joeben Bevirt sold 5,448 shares of Joby Aviation stock. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72.

Joby Aviation Trading Up 3.8 %

Shares of JOBY traded up $0.19 during midday trading on Wednesday, hitting $5.15. The stock had a trading volume of 5,763,553 shares, compared to its average volume of 5,094,768. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $11.06. The business has a 50-day simple moving average of $5.04 and a two-hundred day simple moving average of $5.44. The firm has a market cap of $3.65 billion, a P/E ratio of -6.83 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.05 million. Joby Aviation’s revenue for the quarter was down 97.5% compared to the same quarter last year. During the same period last year, the company earned ($0.16) earnings per share. On average, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. 8VC GP I LLC acquired a new stake in shares of Joby Aviation in the fourth quarter worth $95,727,000. Vanguard Group Inc. lifted its stake in shares of Joby Aviation by 20.6% in the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock worth $220,143,000 after buying an additional 5,819,837 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Joby Aviation by 10.3% in the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after buying an additional 5,267,436 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Joby Aviation in the first quarter worth $15,357,000. Finally, Lingotto Investment Management LLP lifted its stake in shares of Joby Aviation by 129.8% in the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after buying an additional 1,180,000 shares during the last quarter. Institutional investors own 45.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JOBY. JPMorgan Chase & Co. upgraded shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday.

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.