Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 8,272 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Bonny W. Simi sold 8,272 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $81,231.04. Following the completion of the sale, the insider directly owned 211,397 shares in the company, valued at approximately $2,075,918.54. This trade represents a 3.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Stock Up 3.4%

JOBY traded up $0.35 on Thursday, reaching $10.51. The company had a trading volume of 21,173,793 shares, compared to its average volume of 14,884,753. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $11.16. The stock has a market capitalization of $8.32 billion, a PE ratio of -12.49 and a beta of 2.47. The stock has a 50-day moving average price of $7.81 and a 200-day moving average price of $7.46.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned ($0.14) EPS. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research note on Wednesday, June 4th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, Morgan Stanley reissued an "equal weight" rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. 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 stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of "Hold" and an average price target of $9.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JOBY. Raymond James Financial Inc. purchased a new stake in Joby Aviation in the 4th quarter valued at $2,168,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $121,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Joby Aviation by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after buying an additional 361,520 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Joby Aviation in the 4th quarter valued at about $311,000. Finally, Deutsche Bank AG increased its position in Joby Aviation by 26.0% in the 4th quarter. Deutsche Bank AG now owns 350,784 shares of the company's stock valued at $2,852,000 after acquiring an additional 72,329 shares during the period. 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.