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

by · The Cerbat Gem

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) insider Bonny W. Simi sold 8,272 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $81,231.04. Following the transaction, the insider owned 211,397 shares in the company, valued at $2,075,918.54. This represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Joby Aviation Trading Up 3.6%

Shares of NYSE:JOBY opened at $10.53 on Friday. The stock has a fifty day simple moving average of $7.89 and a two-hundred day simple moving average of $7.48. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $11.16. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -12.53 and a beta of 2.47.

Joby Aviation (NYSE:JOBY – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same period last year, the company posted ($0.14) earnings per share. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toyota Motor Corp purchased a new position in shares of Joby Aviation in the 4th quarter worth $640,259,000. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the period. Uber Technologies Inc bought a new stake in shares of Joby Aviation during the 4th quarter valued at about $207,842,000. Geode Capital Management LLC increased its position in shares of Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after purchasing an additional 817,638 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its position in shares of Joby Aviation by 89.4% during the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company’s stock valued at $27,421,000 after purchasing an additional 2,150,000 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. Morgan Stanley restated an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Hold” and an average price target of $9.33.

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Joby Aviation Company Profile

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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.

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