Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt Sells 23,886 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now owns 768,293 shares in the company, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Joby Aviation Trading Up 20.8 %

NYSE:JOBY opened at $9.77 on Monday. The firm’s fifty day simple moving average is $7.18 and its 200 day simple moving average is $6.05. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $9.82. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $0.06 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Ieq Capital LLC lifted its position in shares of Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. State Street Corp lifted its holdings in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares in the last quarter. Geode Capital Management LLC boosted its position in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after acquiring an additional 435,069 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently 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.