Joby Aviation (NYSE:JOBY) Insider Sells $364,003.52 in Stock

Key Points

• Kate Dehoff, an insider at Joby Aviation, sold 20,824 shares for a total of $364,003.52, reducing her ownership by 12.24% to 149,369 shares valued at approximately $2.61 million.
• Joby Aviation's stock rose by 7.8% to $18.08, with a trading volume significantly above its average, amidst fluctuations in analyst ratings.
• The company reported a quarterly loss of ($0.24) earnings per share, missing expectations, and experienced a 94.6% year-over-year decline in revenue.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 20,824 shares of the business's stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total value of $364,003.52. Following the transaction, the insider owned 149,369 shares of the company's stock, valued at approximately $2,610,970.12. This trade represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 13th, Kate Dehoff sold 8,262 shares of Joby Aviation stock. The shares were sold at an average price of $16.84, for a total value of $139,132.08.
• On Thursday, October 2nd, Kate Dehoff sold 13,789 shares of Joby Aviation stock. The stock was sold at an average price of $16.78, for a total value of $231,379.42.
• On Monday, September 22nd, Kate Dehoff sold 52,907 shares of Joby Aviation stock. The stock was sold at an average price of $15.76, for a total value of $833,814.32.

Joby Aviation Stock Up 7.8%

JOBY stock traded up $1.31 during midday trading on Tuesday, hitting $18.08. The company's stock had a trading volume of 107,338,889 shares, compared to its average volume of 25,430,389. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of -16.90 and a beta of 2.52. The company has a 50 day moving average of $15.72 and a two-hundred day moving average of $11.49.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted 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 business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same period last year, the firm earned ($0.18) EPS. Joby Aviation's revenue for the quarter was down 94.6% compared to the same quarter last year. On average, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Toyota Motor Corp raised its holdings in Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company's stock valued at $1,355,194,000 after buying an additional 49,701,790 shares during the period. Geode Capital Management LLC raised its holdings in Joby Aviation by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company's stock valued at $117,230,000 after buying an additional 573,328 shares during the period. State Street Corp raised its holdings in Joby Aviation by 3.0% during the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company's stock valued at $109,636,000 after buying an additional 305,109 shares during the period. Rheos Capital Works Inc. raised its holdings in Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company's stock valued at $76,013,000 after buying an additional 2,650,000 shares during the period. Finally, ARK Investment Management LLC raised its holdings in Joby Aviation by 1.9% during the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company's stock valued at $37,003,000 after buying an additional 64,562 shares during the period. Hedge funds and other institutional investors own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several recent analyst reports. HC Wainwright downgraded Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and upped their price objective for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Joby Aviation has an average rating of "Reduce" and a consensus price target of $11.83.

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.

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