Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 9,815 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 9,815 shares of Joby Aviation stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $9.88, for a total transaction of $96,972.20. Following the sale, the insider owned 713,268 shares of the company’s stock, valued at approximately $7,047,087.84. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Eric Allison also recently made the following trade(s):

• On Tuesday, February 10th, Eric Allison sold 1,526 shares of Joby Aviation stock. The stock was sold at an average price of $10.55, for a total transaction of $16,099.30.
• On Tuesday, January 13th, Eric Allison sold 21,493 shares of Joby Aviation stock. The shares were sold at an average price of $14.84, for a total transaction of $318,956.12.
• On Friday, January 2nd, Eric Allison sold 5,447 shares of Joby Aviation stock. The stock was sold at an average price of $13.51, for a total transaction of $73,588.97.
• On Tuesday, December 30th, Eric Allison sold 32,448 shares of Joby Aviation stock. The stock was sold at an average price of $13.25, for a total value of $429,936.00.

Joby Aviation Stock Performance

JOBY stock traded up $0.08 on Tuesday, reaching $9.98. The company had a trading volume of 15,713,523 shares, compared to its average volume of 30,759,029. The company’s fifty day moving average is $13.30 and its 200 day moving average is $14.77. The company has a market cap of $9.10 billion, a P/E ratio of -7.45 and a beta of 2.57. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the period. AQR Capital Management LLC bought a new stake in shares of Joby Aviation in the 1st quarter worth $273,000. Strs Ohio purchased a new stake in Joby Aviation in the first quarter worth approximately $37,000. IFP Advisors Inc grew its holdings in shares of Joby Aviation by 137.9% in the second quarter. IFP Advisors Inc now owns 9,030 shares of the company’s stock worth $95,000 after acquiring an additional 5,234 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new stake in Joby Aviation during the second quarter valued at $304,000. Institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JOBY shares. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group began coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.21.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.