Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $14,826.80 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $14,826.80. Following the transaction, the insider now owns 45,434 shares in the company, valued at approximately $367,106.72. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $9.77 on Monday. The stock has a market capitalization of $7.47 billion, a PE ratio of -13.96 and a beta of 2.32. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $9.82. The stock has a 50 day moving average price of $7.18 and a 200 day moving average price of $6.05.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the business earned ($0.13) EPS. As a group, research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in Joby Aviation in the 3rd quarter valued at about $518,000. Fred Alger Management LLC increased its position in Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after buying an additional 58,229 shares during the period. Caprock Group LLC lifted its holdings in shares of Joby Aviation by 179.5% during the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after buying an additional 79,896 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the period. Finally, Holocene Advisors LP increased its position in Joby Aviation by 91.7% during the third quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after acquiring an additional 249,375 shares during the period. 52.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group decreased their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Company Profile

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.