Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 32,284 Shares

Key Points

• Joeben Bevirt, CEO of Joby Aviation, sold **32,284 shares** of the company at an average price of **$16.78**, totaling over **$541,000**, which decreased his ownership by **11.45%**.
• Joby Aviation's stock traded up by **2.6%**, reaching **$18.26**, with a one-year trading range between **$4.80 and $20.95**.
• In its last earnings report, the company reported an EPS of **($0.24)**, missing estimates, and a revenue decline of **94.6%** year-over-year, prompting multiple analysts to downgrade their ratings.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CEO Joeben Bevirt sold 32,284 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $541,725.52. Following the sale, the chief executive officer directly owned 249,587 shares in the company, valued at approximately $4,188,069.86. This represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Joeben Bevirt also recently made the following trade(s):

• On Wednesday, October 1st, Joeben Bevirt sold 253,600 shares of Joby Aviation stock. The stock was sold at an average price of $16.29, for a total value of $4,131,144.00.
• On Wednesday, October 1st, Joeben Bevirt sold 172,400 shares of Joby Aviation stock. The stock was sold at an average price of $16.29, for a total value of $2,808,396.00.

Joby Aviation Trading Up 2.6%

Shares of JOBY stock traded up $0.46 during trading hours on Friday, hitting $18.26. The stock had a trading volume of 35,832,315 shares, compared to its average volume of 41,566,616. Joby Aviation, Inc. has a one year low of $4.80 and a one year high of $20.95. The stock's 50-day moving average price is $15.70 and its two-hundred day moving average price is $10.95.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JOBY shares. Wall Street Zen cut Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a research note on Saturday, September 27th. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and lifted their target price for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Cantor Fitzgerald restated a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of "Reduce" and a consensus price target of $10.50.

Institutional Trading of Joby Aviation

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $121,000. GAMMA Investing LLC boosted its holdings in shares of Joby Aviation by 5,161.0% in the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company's stock valued at $205,000 after purchasing an additional 33,443 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Joby Aviation by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock valued at $1,512,000 after purchasing an additional 2,065 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Joby Aviation by 70.4% in the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock valued at $1,849,000 after purchasing an additional 126,908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Joby Aviation by 16.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company's stock valued at $3,050,000 after purchasing an additional 71,695 shares during the period. Hedge funds and other institutional investors own 52.85% of the company's stock.

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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