Joby Aviation (NYSE:JOBY) Insider Bonny Simi Sells 7,696 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 7,696 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $8.15, for a total value of $62,722.40. Following the completion of the sale, the insider owned 217,475 shares of the company’s stock, valued at approximately $1,772,421.25. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joby Aviation Stock Down 0.0%

NYSE JOBY opened at $8.50 on Friday. Joby Aviation, Inc. has a 52 week low of $4.96 and a 52 week high of $20.95. The company has a market capitalization of $7.75 billion, a P/E ratio of -7.45 and a beta of 2.68. The stock’s 50-day moving average price is $9.92 and its 200-day moving average price is $13.43.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to the consensus estimate of $16.88 million. The company’s revenue was up 5506.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. Research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JOBY shares. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Oppenheimer set a $18.00 price target on Joby Aviation in a research note on Thursday, February 26th. Finally, Needham & Company LLC decreased their price target on Joby Aviation to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.81.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC raised its position in shares of Joby Aviation by 22.5% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after buying an additional 697 shares during the last quarter. Asset Planning Inc boosted its position in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the last quarter. GoalVest Advisory LLC boosted its position in shares of Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after acquiring an additional 700 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in Joby Aviation by 15.3% during the third quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company’s stock valued at $93,000 after acquiring an additional 765 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.