Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 4,683 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Didier Papadopoulos sold 4,683 shares of Joby Aviation stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.90, for a total value of $41,678.70. Following the transaction, the insider now owns 79,654 shares in the company, valued at approximately $708,920.60. This represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Didier Papadopoulos also recently made the following trade(s):

• On Thursday, May 8th, Didier Papadopoulos sold 2,899 shares of Joby Aviation stock. The stock was sold at an average price of $7.00, for a total value of $20,293.00.

Joby Aviation Stock Performance

Shares of JOBY traded down $0.34 during midday trading on Tuesday, hitting $8.66. The stock had a trading volume of 22,898,165 shares, compared to its average volume of 14,025,213. The company has a 50 day simple moving average of $7.04 and a two-hundred day simple moving average of $7.37. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on JOBY. Cantor Fitzgerald lowered Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 target price on the stock. in a report on Thursday, June 12th. Morgan Stanley reiterated an "equal weight" rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 target price (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.33.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toyota Motor Corp acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $640,259,000. Baillie Gifford & Co. increased its position in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after acquiring an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after acquiring an additional 6,388,232 shares during the last quarter. Uber Technologies Inc acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $207,842,000. Finally, Geode Capital Management LLC increased its position in shares of Joby Aviation by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock valued at $83,015,000 after acquiring an additional 817,638 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.