Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 5,102 Shares of Stock

Key Points

• Didier Papadopoulos, an insider at Joby Aviation, sold 5,102 shares at an average price of $18.08, totaling approximately $92,244.16, decreasing his ownership by 4.94%.
• Joby Aviation reported a quarterly loss of ($0.24) earnings per share, missing analysts' estimates and marking a 94.6% decline in year-over-year revenue.
• A significant portion of Joby Aviation’s stock, 52.85%, is now owned by hedge funds and institutional investors, indicating increasing interest from large financial entities.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Didier Papadopoulos sold 5,102 shares of the firm's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $18.08, for a total value of $92,244.16. Following the sale, the insider owned 98,104 shares in the company, valued at approximately $1,773,720.32. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, October 2nd, Didier Papadopoulos sold 15,439 shares of Joby Aviation stock. The stock was sold at an average price of $16.78, for a total value of $259,066.42.
• On Tuesday, September 16th, Didier Papadopoulos sold 1,979 shares of Joby Aviation stock. The stock was sold at an average price of $14.22, for a total transaction of $28,141.38.
• On Monday, September 15th, Didier Papadopoulos sold 5,987 shares of Joby Aviation stock. The shares were sold at an average price of $14.55, for a total value of $87,110.85.

Joby Aviation Price Performance

JOBY stock traded up $0.46 during midday trading on Friday, hitting $18.26. 35,832,315 shares of the company's stock were exchanged, compared to its average volume of 41,566,616. The firm has a 50 day moving average price of $15.70 and a 200-day moving average price of $10.95. Joby Aviation, Inc. has a 12-month low of $4.80 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. The company's quarterly revenue was down 94.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOBY. EverSource Wealth Advisors LLC increased its holdings in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after purchasing an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after acquiring an additional 750 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Joby Aviation in the second quarter worth $39,000. Solstein Capital LLC bought a new stake in Joby Aviation during the second quarter valued at about $47,000. Finally, Laurel Wealth Advisors LLC grew its holdings in Joby Aviation by 954.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company's stock valued at $57,000 after buying an additional 4,860 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Joby Aviation in a research report on Saturday, September 27th. HC Wainwright lowered shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group cut shares of Joby Aviation from a "buy" rating to a "hold" rating and increased their target price for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $10.50.

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.

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