Joby Aviation, Inc. (NYSE:JOBY) Insider Eric Allison Sells 6,715 Shares

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Eric Allison sold 6,715 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $65,941.30. Following the completion of the sale, the insider owned 634,065 shares in the company, valued at approximately $6,226,518.30. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Eric Allison also recently made the following trade(s):

• On Monday, April 14th, Eric Allison sold 24,395 shares of Joby Aviation stock. The stock was sold at an average price of $6.04, for a total value of $147,345.80.

Joby Aviation Trading Up 3.6%

Shares of NYSE:JOBY traded up $0.37 during mid-day trading on Friday, reaching $10.53. The stock had a trading volume of 21,327,894 shares, compared to its average volume of 14,921,604. The firm has a 50 day simple moving average of $7.89 and a two-hundred day simple moving average of $7.48. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $11.16. The firm has a market cap of $8.33 billion, a PE ratio of -12.53 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. HC Wainwright restated a "buy" rating and set a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.33.

Institutional Trading of Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new position in Joby Aviation in the fourth quarter valued at about $38,000. Toronto Dominion Bank bought a new position in shares of Joby Aviation during the 4th quarter valued at about $41,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $41,000. GAMMA Investing LLC grew its position in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after purchasing an additional 5,015 shares during the period. Finally, Covestor Ltd increased its stake in Joby Aviation by 195.8% during the 4th quarter. Covestor Ltd now owns 6,022 shares of the company's stock worth $50,000 after purchasing an additional 3,986 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

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.