Joby Aviation, Inc. (NYSE:JOBY) Insider Sergey Novikov Sells 1,835 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $14,826.80. Following the transaction, the insider now directly owns 45,434 shares of the company’s stock, valued at $367,106.72. This represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Joby Aviation Price Performance

JOBY stock opened at $9.77 on Friday. The firm has a market capitalization of $7.47 billion, a P/E ratio of -13.96 and a beta of 2.32. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $9.82. The company’s 50 day simple moving average is $7.18 and its 200-day simple moving average is $6.04.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the firm earned ($0.13) earnings per share. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently bought and sold shares of the business. Everence Capital Management Inc. purchased a new position in Joby Aviation during the 4th quarter valued at about $142,000. Tidal Investments LLC grew its position in Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares in the last quarter. Geode Capital Management LLC increased its stake in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the period. Kensington Investment Counsel LLC lifted its position in Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after buying an additional 3,653 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 15.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after buying an additional 5,000 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Canaccord Genuity Group reduced their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Company Profile

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.