Bonny W. Simi Sells 300,000 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Bonny W. Simi sold 300,000 shares of Joby Aviation stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.79, for a total value of $3,237,000.00. Following the completion of the transaction, the insider owned 203,588 shares of the company's stock, valued at approximately $2,196,714.52. The trade was a 59.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Joby Aviation Stock Up 3.6%

NYSE JOBY traded up $0.37 during trading hours on Friday, hitting $10.53. The company had a trading volume of 21,327,894 shares, compared to its average volume of 14,921,604. The firm has a market cap of $8.33 billion, a P/E ratio of -12.53 and a beta of 2.47. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $11.16. The business has a fifty day simple moving average of $7.89 and a 200-day simple moving average of $7.48.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter last year, the company earned ($0.14) earnings per share. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley restated an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research report on Wednesday, June 4th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Joby Aviation currently has an average rating of "Hold" and a consensus target price of $9.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Joby Aviation by 5.4% in the first quarter. Rhumbline Advisers now owns 626,743 shares of the company's stock valued at $3,773,000 after purchasing an additional 32,324 shares during the period. Strs Ohio acquired a new position in shares of Joby Aviation during the first quarter worth approximately $37,000. Intech Investment Management LLC grew its holdings in Joby Aviation by 70.4% in the 1st 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 in the last quarter. Integrity Alliance LLC. acquired a new stake in Joby Aviation in the 1st quarter valued at approximately $124,000. Finally, PharVision Advisers LLC acquired a new stake in Joby Aviation in the 1st quarter valued at approximately $61,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.