Joeben Bevirt Sells 606,667 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO JoeBen Bevirt sold 606,667 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $6.19, for a total transaction of $3,755,268.73. Following the sale, the chief executive officer owned 57,207,377 shares in the company, valued at $354,113,663.63. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joeben Bevirt also recently made the following trade(s):

• On Thursday, July 2nd, JoeBen Bevirt sold 15,788 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $140,828.96.

Joby Aviation Stock Up 1.7%

Shares of Joby Aviation stock traded up $0.10 on Thursday, hitting $6.18. The company had a trading volume of 23,350,091 shares, compared to its average volume of 31,904,195. The firm has a market capitalization of $6.12 billion, a P/E ratio of -6.25 and a beta of 2.68. Joby Aviation, Inc. has a twelve month low of $5.93 and a twelve month high of $19.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The stock has a 50-day moving average of $7.35 and a 200-day moving average of $8.77.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company’s revenue was up 257493.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.41) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on JOBY shares. Needham & Company LLC dropped their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research report on Thursday, August 6th. Finally, Susquehanna set a $18.00 target price on Joby Aviation in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $13.81.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Joby Aviation by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 385,572 shares of the company’s stock valued at $3,439,000 after acquiring an additional 70,772 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Joby Aviation by 46.6% during the second quarter. Integrated Wealth Concepts LLC now owns 57,994 shares of the company’s stock valued at $517,000 after purchasing an additional 18,427 shares during the last quarter. NewEdge Advisors LLC boosted its position in Joby Aviation by 37.8% during the second quarter. NewEdge Advisors LLC now owns 53,240 shares of the company’s stock valued at $475,000 after purchasing an additional 14,594 shares during the last quarter. Arizona State Retirement System grew its stake in Joby Aviation by 10.2% in the second quarter. Arizona State Retirement System now owns 67,557 shares of the company’s stock valued at $603,000 after purchasing an additional 6,258 shares in the last quarter. Finally, Corient Private Wealth LP raised its stake in shares of Joby Aviation by 68.6% during the 2nd quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock worth $306,000 after purchasing an additional 13,955 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.