Joby Aviation, Inc. (NYSE:JOBY) Insider Eric Allison Sells 27,817 Shares

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Eric Allison sold 27,817 shares of Joby Aviation stock in a transaction on Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the completion of the transaction, the insider now directly owns 463,151 shares of the company's stock, valued at approximately $2,575,119.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Stock Performance

Shares of JOBY traded down $0.12 during midday trading on Tuesday, hitting $5.42. 5,547,988 shares of the stock traded hands, compared to its average volume of 6,076,099. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $7.69. The firm has a market capitalization of $3.84 billion, a PE ratio of -7.09 and a beta of 1.97. The business's 50 day moving average price is $5.21 and its two-hundred day moving average price is $5.24.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period last year, the firm posted ($0.17) EPS. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $10.50 price objective on shares of Joby Aviation in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th.

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Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Nisa Investment Advisors LLC lifted its holdings in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after purchasing an additional 5,840 shares during the period. Sound Income Strategies LLC lifted its holdings in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after purchasing an additional 10,000 shares during the period. Integris Wealth Management LLC acquired a new stake in Joby Aviation in the second quarter worth about $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation in the second quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation in the second quarter worth about $57,000. Institutional investors and hedge funds own 45.54% of the company's stock.

About Joby Aviation

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.

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