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

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the business’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 completion of the transaction, the insider now directly owns 45,434 shares of the company’s stock, valued at approximately $367,106.72. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $9.77 on Monday. The firm has a market cap of $7.47 billion, a PE 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 firm’s fifty day moving average is $7.18 and its 200-day moving average is $6.05.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned ($0.13) earnings per share. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. State Street Corp boosted its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after acquiring an additional 1,807,054 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Canaccord Genuity Group lowered their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and an average price target 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.