Eric Allison Sells 27,817 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,817 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the completion of the transaction, the insider now owns 463,151 shares in the company, valued at $2,575,119.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Joby Aviation Stock Up 2.6 %

NYSE:JOBY opened at $5.56 on Thursday. The business’s 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $5.24. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $7.69. The stock has a market cap of $3.94 billion, a PE ratio of -7.32 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. Sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JOBY shares. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Joby Aviation in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of JOBY. Nisa Investment Advisors LLC increased its holdings in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation in the second quarter worth about $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation during the 2nd quarter valued at about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation in the 2nd quarter valued at about $57,000. Institutional investors own 45.54% of the company’s stock.

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.