Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 2,279 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 2,279 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $7.00, for a total value of $15,953.00. Following the completion of the sale, the insider now directly owns 50,975 shares of the company’s stock, valued at approximately $356,825. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Didier Papadopoulos also recently made the following trade(s):

• On Monday, September 16th, Didier Papadopoulos sold 6,025 shares of Joby Aviation stock. The shares were sold at an average price of $5.33, for a total value of $32,113.25.

Joby Aviation Price Performance

Shares of JOBY stock traded up $0.29 on Friday, hitting $7.09. The company’s stock had a trading volume of 23,724,660 shares, compared to its average volume of 7,723,055. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -10.01 and a beta of 1.97. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The firm’s fifty day moving average price is $5.51 and its 200-day moving average price is $5.36.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter last year, the company posted ($0.13) EPS. Analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC lifted its stake in shares of Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock worth $76,000 after buying an additional 3,000 shares during the last quarter. Kensington Investment Counsel LLC lifted its position in Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Joby Aviation by 8.5% during the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares during the period. Amalgamated Bank grew its position in shares of Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JOBY. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Canaccord Genuity Group lowered their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

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.