Joby Aviation (NYSE:JOBY) Stock Price Down 0.9% Following Insider Selling

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price was down 0.9% on Thursday following insider selling activity. The stock traded as low as $8.00 and last traded at $7.98. Approximately 2,813,166 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 13,161,767 shares. The stock had previously closed at $8.05.

Specifically, Director Paul Cahill Sciarra sold 333,334 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

A number of brokerages have recently commented on JOBY. Canaccord Genuity Group upped their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC lifted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of Joby Aviation from a "neutral" rating to an "underweight" rating and increased their price target for the stock from $5.00 to $6.00 in a report on Friday, January 10th. Finally, HC Wainwright reiterated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.30.

Joby Aviation Stock Down 1.5 %

The business has a 50 day moving average of $8.36 and a 200 day moving average of $6.55. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -11.06 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during 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 in the prior year, the firm earned ($0.13) EPS. Research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC lifted its position in Joby Aviation by 148.0% during the fourth quarter. Wealthfront Advisers LLC now owns 34,010 shares of the company's stock worth $277,000 after buying an additional 20,298 shares during the period. Miller Financial Services LLC purchased a new position in Joby Aviation during the fourth quarter worth approximately $114,000. Independent Advisor Alliance boosted its holdings in shares of Joby Aviation by 18.4% in the 4th quarter. Independent Advisor Alliance now owns 22,350 shares of the company's stock valued at $182,000 after purchasing an additional 3,481 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Joby Aviation during the 4th quarter valued at $200,000. Finally, Larson Financial Group LLC raised its position in shares of Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock worth $80,000 after buying an additional 2,574 shares during the period. Institutional investors and hedge funds 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.