Joby Aviation (NYSE:JOBY) Insider Sells $231,379.42 in Stock

Key Points

• Insider Sale: Kate Dehoff sold 13,789 shares of Joby Aviation stock for approximately $231,379, reducing her ownership by 7.83% to 162,390 shares.
• Poor Earnings Report: Joby Aviation missed earnings expectations, reporting a loss of ($0.24) per share and significant revenue decline of 94.6% year-over-year.
• Stock Performance: Joby Aviation shares traded at $18.26, with a 52-week low of $4.80 and a high of $20.95, reflecting significant volatility.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 13,789 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total transaction of $231,379.42. Following the completion of the sale, the insider directly owned 162,390 shares of the company's stock, valued at approximately $2,724,904.20. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kate Dehoff also recently made the following trade(s):

• On Monday, September 22nd, Kate Dehoff sold 52,907 shares of Joby Aviation stock. The shares were sold at an average price of $15.76, for a total transaction of $833,814.32.
• On Tuesday, July 15th, Kate Dehoff sold 20,823 shares of Joby Aviation stock. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41.
• On Monday, July 14th, Kate Dehoff sold 8,262 shares of Joby Aviation stock. The stock was sold at an average price of $11.97, for a total transaction of $98,896.14.

Joby Aviation Price Performance

Shares of JOBY traded up $0.46 during mid-day trading on Friday, hitting $18.26. The company's stock had a trading volume of 35,832,315 shares, compared to its average volume of 41,566,616. The company's 50-day moving average is $15.70 and its 200-day moving average is $10.95. Joby Aviation, Inc. has a 52-week low of $4.80 and a 52-week high of $20.95.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JOBY. Ameriprise Financial Inc. acquired a new position in Joby Aviation during the 4th quarter valued at approximately $498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Joby Aviation by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company's stock valued at $3,617,000 after purchasing an additional 57,929 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Joby Aviation during the 4th quarter valued at approximately $121,000. California State Teachers Retirement System increased its stake in Joby Aviation by 1.1% during the 4th 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in Joby Aviation by 5,161.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group cut shares of Joby Aviation from a "buy" rating to a "hold" rating and upped their price target for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. HC Wainwright lowered shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Joby Aviation in a research note on Saturday, September 27th. Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note 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 stock an "underweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $10.50.

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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