Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 32,448 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 32,448 shares of Joby Aviation stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $13.25, for a total value of $429,936.00. Following the sale, the insider owned 659,980 shares of the company’s stock, valued at approximately $8,744,735. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, October 13th, Eric Allison sold 27,537 shares of Joby Aviation stock. The stock was sold at an average price of $16.84, for a total value of $463,723.08.

Joby Aviation Price Performance

JOBY traded up $1.17 during midday trading on Friday, hitting $14.37. 21,794,706 shares of the company’s stock traded hands, compared to its average volume of 15,424,115. The company has a market cap of $13.10 billion, a PE ratio of -10.72 and a beta of 2.56. The stock’s fifty day simple moving average is $14.67 and its 200-day simple moving average is $14.72. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The firm’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Joby Aviation

Several hedge funds have recently added to or reduced their stakes in JOBY. Russell Investments Group Ltd. increased its position in Joby Aviation by 1,285.9% in the 1st quarter. Russell Investments Group Ltd. now owns 12,806 shares of the company’s stock worth $77,000 after buying an additional 11,882 shares during the period. Royal Bank of Canada grew its stake in shares of Joby Aviation by 110.5% in the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after acquiring an additional 44,659 shares during the last quarter. EP Wealth Advisors LLC increased its position in Joby Aviation by 11.7% during the first quarter. EP Wealth Advisors LLC now owns 37,407 shares of the company’s stock worth $225,000 after acquiring an additional 3,909 shares during the period. AQR Capital Management LLC acquired a new position in Joby Aviation during the 1st quarter valued at $273,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 valued at $3,050,000 after purchasing an additional 71,695 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley raised their target price on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.