Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 606,667 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO JoeBen Bevirt sold 606,667 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.19, for a total value of $3,755,268.73. Following the sale, the chief executive officer owned 57,207,377 shares of the company’s stock, valued at $354,113,663.63. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, JoeBen Bevirt sold 15,788 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $140,828.96.

Joby Aviation Price Performance

NYSE JOBY opened at $6.18 on Friday. The company has a 50 day simple moving average of $7.31 and a 200-day simple moving average of $8.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -6.25 and a beta of 2.68. Joby Aviation, Inc. has a 52-week low of $5.93 and a 52-week high of $19.98.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business’s revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.41) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the topic of a number of research reports. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Needham & Company LLC lowered their target price on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen lowered Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Barclays raised Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Finally, HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and an average target price of $13.81.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Joby Aviation by 22.5% during the second quarter. The Manufacturers Life Insurance Company now owns 385,572 shares of the company’s stock valued at $3,439,000 after buying an additional 70,772 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Joby Aviation by 46.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 57,994 shares of the company’s stock valued at $517,000 after acquiring an additional 18,427 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Joby Aviation by 37.8% in the 2nd quarter. NewEdge Advisors LLC now owns 53,240 shares of the company’s stock valued at $475,000 after acquiring an additional 14,594 shares in the last quarter. Arizona State Retirement System lifted its holdings in Joby Aviation by 10.2% in the 2nd quarter. Arizona State Retirement System now owns 67,557 shares of the company’s stock worth $603,000 after purchasing an additional 6,258 shares during the last quarter. Finally, Corient Private Wealth LP lifted its holdings in Joby Aviation by 68.6% in the 2nd quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock worth $306,000 after purchasing an additional 13,955 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

About Joby Aviation

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.