Joby Aviation (NYSE:JOBY) Insider Eric Allison Sells 27,537 Shares

Key Points

• Eric Allison, an insider at Joby Aviation, sold 27,537 shares at an average price of $16.84, totaling approximately $463,723, which constitutes a 3.82% decrease in his ownership.
• Joby Aviation's stock price increased by 7.8% to $18.08, with a significant trading volume of over 107 million shares exchanged, surpassing its average volume.
• The company reported a significant year-over-year revenue decline of 94.6%, with earnings per share of -$0.24, missing analysts' expectations by $0.06.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the transaction, the insider directly owned 692,428 shares of the company's stock, valued at approximately $11,660,487.52. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, October 2nd, Eric Allison sold 6,715 shares of Joby Aviation stock. The stock was sold at an average price of $16.78, for a total value of $112,677.70.

Joby Aviation Trading Up 7.8%

JOBY stock traded up $1.31 during trading on Tuesday, reaching $18.08. 107,338,889 shares of the stock were exchanged, compared to its average volume of 25,430,389. The firm's 50 day moving average is $15.72 and its 200 day moving average is $11.49. Joby Aviation, Inc. has a twelve month low of $4.80 and a twelve month high of $20.95. The firm has a market cap of $15.48 billion, a P/E ratio of -16.90 and a beta of 2.52.

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

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. Canaccord Genuity Group lowered Joby Aviation from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Monday, June 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a report on Wednesday, October 8th. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, HC Wainwright lowered Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $11.83.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth $121,000. GAMMA Investing LLC lifted its position in shares of Joby Aviation by 5,161.0% during the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company's stock worth $205,000 after acquiring an additional 33,443 shares in 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 worth $10,384,000 after acquiring an additional 411,691 shares in the last quarter. JBR Co Financial Management Inc purchased a new stake in shares of Joby Aviation during the first quarter worth $62,000. Finally, Cobblestone Asset Management LLC purchased a new stake in shares of Joby Aviation during the first quarter worth $370,000. 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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