Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 8,262 Shares of Stock

Key Points

• Joby Aviation insider Kate Dehoff sold 8,262 shares of stock at an average price of $16.84, reducing her position by 4.63% and retaining 170,193 shares valued at approximately $2.87 million.
• The company reported a quarterly earnings miss, with an earnings per share of ($0.24), falling short of estimates, and 94.6% decline in revenue compared to the same quarter last year.
• Joby Aviation's stock has experienced a recent price rise, trading up to $18.08, while analysts have varied opinions, with an average target price of $11.83 and most ratings indicating a "Reduce" stance.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 8,262 shares of the business's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $139,132.08. Following the sale, the insider directly owned 170,193 shares in the company, valued at $2,866,050.12. This trade represents a 4.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, October 14th, Kate Dehoff sold 20,824 shares of Joby Aviation stock. The stock was sold at an average price of $17.48, for a total transaction of $364,003.52.
• On Thursday, October 2nd, Kate Dehoff sold 13,789 shares of Joby Aviation stock. The shares were sold at an average price of $16.78, for a total transaction of $231,379.42.
• On Monday, September 22nd, Kate Dehoff sold 52,907 shares of Joby Aviation stock. The stock was sold at an average price of $15.76, for a total transaction of $833,814.32.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $1.31 on Tuesday, hitting $18.08. 107,338,889 shares of the company were exchanged, compared to its average volume of 25,430,389. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of -16.90 and a beta of 2.52. Joby Aviation, Inc. has a one year low of $4.80 and a one year high of $20.95. The company's 50 day moving average price is $15.69 and its two-hundred day moving average price is $11.53.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted 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 company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Joby Aviation's revenue was down 94.6% compared to the same quarter last year. During the same period last year, the business posted ($0.18) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HC Wainwright downgraded shares of Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and increased their target price for the company 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 given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Joby Aviation currently has an average rating of "Reduce" and an average target price of $11.83.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in Joby Aviation during the fourth quarter valued at approximately $121,000. GAMMA Investing LLC lifted its holdings in shares of Joby Aviation by 5,161.0% in the 1st quarter. GAMMA Investing LLC now owns 34,091 shares of the company's stock worth $205,000 after acquiring an additional 33,443 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Joby Aviation by 31.4% during the first quarter. Exchange Traded Concepts LLC now owns 1,724,888 shares of the company's stock valued at $10,384,000 after buying an additional 411,691 shares during the last quarter. JBR Co Financial Management Inc acquired a new position in Joby Aviation in the 1st quarter worth approximately $62,000. Finally, Cobblestone Asset Management LLC purchased a new position in Joby Aviation in the 1st quarter valued at $370,000. 52.85% of the stock is currently 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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