Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 250,000 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the transaction, the chief executive officer now owns 32,275,793 shares in the company, valued at approximately $190,104,420.77. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Joeben Bevirt also recently made the following trade(s):

• On Wednesday, March 5th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The shares were sold at an average price of $6.59, for a total value of $10,906.45.
• On Thursday, February 13th, Joeben Bevirt sold 10,785 shares of Joby Aviation stock. The stock was sold at an average price of $7.43, for a total value of $80,132.55.
• On Tuesday, February 11th, Joeben Bevirt sold 1,706 shares of Joby Aviation stock. The shares were sold at an average price of $7.50, for a total transaction of $12,795.00.
• On Wednesday, January 15th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The stock was sold at an average price of $8.35, for a total transaction of $13,819.25.
• On Monday, January 6th, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00.

Joby Aviation Stock Down 6.5 %

JOBY stock traded down $0.40 during mid-day trading on Thursday, hitting $5.65. 13,978,531 shares of the company were exchanged, compared to its average volume of 10,905,031. The firm has a market capitalization of $4.45 billion, a P/E ratio of -8.06 and a beta of 2.35. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The business has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $6.94.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JOBY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in Joby Aviation during the 4th quarter worth approximately $38,000. Allworth Financial LP increased its position in Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the fourth quarter worth $41,000. Toronto Dominion Bank purchased a new position in shares of Joby Aviation in the 4th quarter valued at about $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in shares of Joby Aviation during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.