Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 101,652 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CEO Joeben Bevirt sold 101,652 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $6.66, for a total transaction of $677,002.32. Following the sale, the chief executive officer now directly owns 60,526,762 shares in the company, valued at $403,108,234.92. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, April 8th, Joeben Bevirt sold 2,349 shares of Joby Aviation stock. The stock was sold at an average price of $5.79, for a total value of $13,600.71.
• On Tuesday, April 1st, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00.
• On Wednesday, March 5th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The shares were sold at an average price of $6.59, for a total transaction of $10,906.45.

Joby Aviation Stock Up 3.1%

Joby Aviation stock traded up $0.23 during mid-day trading on Friday, hitting $7.39. 18,287,630 shares of the company's stock were exchanged, compared to its average volume of 11,901,617. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The firm has a market capitalization of $5.82 billion, a P/E ratio of -10.55 and a beta of 2.34. The company's 50 day simple moving average is $6.25 and its 200-day simple moving average is $7.09.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share 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 quarter in the previous year, the firm posted ($0.14) EPS. Research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JOBY shares. Cantor Fitzgerald restated an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, April 30th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price target on Joby Aviation from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley reaffirmed 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rheos Capital Works Inc. grew its stake in shares of Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock worth $19,553,000 after acquiring an additional 350,000 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation during the fourth quarter worth $418,000. Entropy Technologies LP bought a new stake in shares of Joby Aviation in the 4th quarter valued at about $300,000. Raymond James Financial Inc. acquired a new stake in Joby Aviation in the 4th quarter valued at about $2,168,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Joby Aviation by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after purchasing an additional 361,520 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

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.

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