Joby Aviation, Inc. (NYSE:JOBY – Get Rating)’s share price fell 8.5% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $4.19 and last traded at $4.21. 59,643 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 2,799,966 shares. The stock had previously closed at $4.60.Specifically, insider Didier Papadopoulos sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $5.50, for a total value of $220,000.00. Following the completion of the transaction, the insider now directly owns 18,128 shares in the company, valued at $99,704. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Didier Papadopoulos sold 40,000 shares of Joby Aviation stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total value of $220,000.00. Following the sale, the insider now directly owns 18,128 shares of the company’s stock, valued at $99,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joeben Bevirt acquired 35,000 shares of the stock in a transaction on Thursday, July 21st. The shares were bought at an average cost of $5.53 per share, for a total transaction of $193,550.00. Following the purchase, the chief executive officer now directly owns 54,549,028 shares of the company’s stock, valued at approximately $301,656,124.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 424,685 shares of company stock valued at $2,100,438. 51.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts recently weighed in on JOBY shares. Raymond James initiated coverage on Joby Aviation in a research note on Wednesday, July 27th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Joby Aviation from $8.00 to $7.00 in a report on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of “Hold” and an average target price of $7.50.
Joby Aviation Stock Down 8.5 %
The firm has a market cap of $2.56 billion, a P/E ratio of -10.92 and a beta of 1.55. The company has a 50 day moving average of $5.53 and a two-hundred day moving average of $5.40.
Joby Aviation (NYSE:JOBY – Get Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). Research analysts expect that Joby Aviation, Inc. will post -0.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Joby Aviation
Institutional investors have recently bought and sold shares of the business. AdvisorShares Investments LLC acquired a new position in Joby Aviation in the second quarter valued at about $30,000. Nisa Investment Advisors LLC acquired a new position in shares of Joby Aviation during the second quarter worth about $43,000. Minot Wealth Management LLC acquired a new position in shares of Joby Aviation during the first quarter worth about $66,000. Wade G W & Inc. acquired a new position in Joby Aviation during the second quarter valued at approximately $51,000. Finally, Prelude Capital Management LLC acquired a new position in shares of Joby Aviation during the 1st quarter worth approximately $69,000. Institutional investors own 29.04% 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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.