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

Key Points

• Eric Allison, an insider at Joby Aviation, sold 6,715 shares of the company's stock at an average price of $16.78, resulting in a total value of approximately $112,678.
• Joby Aviation's stock traded up 2.6% on Friday, reaching $18.26, with a 52-week range between $4.80 and $20.95.
• The company reported a loss of ($0.24) earnings per share for the last quarter, missing analysts' estimates, and its revenue was down 94.6% from the previous year.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Eric Allison sold 6,715 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $112,677.70. Following the completion of the sale, the insider directly owned 666,416 shares in the company, valued at $11,182,460.48. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, July 14th, Eric Allison sold 27,538 shares of Joby Aviation stock. The stock was sold at an average price of $11.97, for a total value of $329,629.86.

Joby Aviation Stock Up 2.6%

Shares of Joby Aviation stock traded up $0.46 on Friday, reaching $18.26. 35,832,315 shares of the company were exchanged, compared to its average volume of 41,566,616. The stock has a fifty day moving average price of $15.70 and a 200-day moving average price of $10.95. Joby Aviation, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $20.95.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on JOBY shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Joby Aviation in a report on Saturday, September 27th. Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. HC Wainwright downgraded Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $10.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Joby Aviation in the fourth quarter valued at about $121,000. GAMMA Investing LLC boosted its stake in shares of Joby Aviation by 5,161.0% during 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 in the last quarter. California State Teachers Retirement System boosted its stake in shares of Joby Aviation by 1.1% during the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock worth $1,512,000 after acquiring an additional 2,065 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Joby Aviation by 70.4% during the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock worth $1,849,000 after acquiring an additional 126,908 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Joby Aviation by 16.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company's stock worth $3,050,000 after acquiring an additional 71,695 shares in the last quarter. 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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