Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 52,907 Shares of Stock

Key Points

• Kate Dehoff, an insider at Joby Aviation, sold 52,907 shares at an average price of $15.76, with a total transaction of $833,814.32, resulting in a 26.16% decrease in her ownership of the stock.
• Joby Aviation's stock price has declined 4.3%, trading at $16.00, with a market cap of $13.69 billion and a price-to-earnings ratio of -14.95.
• Recent analyst reports show mixed ratings for Joby Aviation, with JPMorgan Chase raising its price target from $5.00 to $7.00, while other firms have downgraded their ratings.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 52,907 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $15.76, for a total transaction of $833,814.32. Following the completion of the transaction, the insider directly owned 149,369 shares in the company, valued at $2,354,055.44. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Kate Dehoff also recently made the following trade(s):

• On Tuesday, July 15th, Kate Dehoff sold 20,823 shares of Joby Aviation stock. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41.
• On Monday, July 14th, Kate Dehoff sold 8,262 shares of Joby Aviation stock. The shares were sold at an average price of $11.97, for a total transaction of $98,896.14.
• On Wednesday, July 2nd, Kate Dehoff sold 13,790 shares of Joby Aviation stock. The stock was sold at an average price of $9.82, for a total transaction of $135,417.80.

Joby Aviation Stock Down 4.3%

JOBY traded down $0.72 during trading on Wednesday, reaching $16.00. The company's stock had a trading volume of 43,409,533 shares, compared to its average volume of 23,445,504. The firm has a fifty day simple moving average of $15.82 and a two-hundred day simple moving average of $10.41. Joby Aviation, Inc. has a 1 year low of $4.78 and a 1 year high of $20.95. The company has a market cap of $13.69 billion, a price-to-earnings ratio of -14.95 and a beta of 2.50.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its 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). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%.The business had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.05 million. During the same period last year, the business earned ($0.18) earnings per share. The company's revenue for the quarter was down 94.6% compared to the same quarter last year. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. HC Wainwright downgraded shares of Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Finally, Canaccord Genuity Group downgraded shares of Joby Aviation from a "buy" rating to a "hold" rating and raised their price target for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of "Hold" and a consensus target price of $10.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Toyota Motor Corp boosted its holdings in Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company's stock valued at $1,355,194,000 after purchasing an additional 49,701,790 shares during the period. Nuveen LLC purchased a new position in Joby Aviation in the first quarter valued at $18,936,000. Rheos Capital Works Inc. boosted its holdings in Joby Aviation by 58.2% in the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company's stock valued at $76,013,000 after purchasing an additional 2,650,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Joby Aviation in the second quarter valued at $15,392,000. Finally, Balyasny Asset Management L.P. purchased a new position in Joby Aviation in the second quarter valued at $12,471,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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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