Bonny Simi Sells 8,272 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 8,272 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $138,804.16. Following the completion of the sale, the insider owned 219,206 shares of the company’s stock, valued at $3,678,276.68. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joby Aviation Stock Performance

JOBY opened at $18.26 on Friday. The business’s 50 day moving average price is $15.70 and its 200 day moving average price is $10.99. Joby Aviation, Inc. has a one year low of $4.80 and a one year high of $20.95. The stock has a market capitalization of $15.63 billion, a PE ratio of -17.06 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. The company’s quarterly revenue was down 94.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) EPS. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after buying an additional 750 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after buying an additional 5,015 shares in the last quarter. Strs Ohio acquired a new position in Joby Aviation in the 1st quarter worth $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in Joby Aviation in the 2nd quarter worth $39,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JOBY. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and increased their target price for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Finally, HC Wainwright cut shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $10.50.

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.