Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 250,000 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, April 18th, Joeben Bevirt sold 5,448 shares of Joby Aviation stock. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72.

Joby Aviation Stock Up 3.8 %

Shares of Joby Aviation stock traded up $0.19 during trading hours on Wednesday, reaching $5.15. 5,763,553 shares of the company’s stock were exchanged, compared to its average volume of 5,094,768. The business has a fifty day moving average of $5.04 and a two-hundred day moving average of $5.44. The company has a market capitalization of $3.65 billion, a P/E ratio of -6.83 and a beta of 2.00. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $11.06.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The firm’s revenue was down 97.5% on a year-over-year basis. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday. JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Friday, May 3rd.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Monterey Private Wealth Inc. purchased a new position in shares of Joby Aviation in the fourth quarter valued at approximately $67,000. International Assets Investment Management LLC purchased a new position in Joby Aviation in the 4th quarter valued at approximately $73,000. Teza Capital Management LLC acquired a new position in shares of Joby Aviation in the third quarter worth $76,000. Private Advisor Group LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth $77,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth $86,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.