Joby Aviation, Inc. (NYSE:JOBY) Insider Didier Papadopoulos Sells 24,141 Shares

Posted by Defense World Staff on Jun 7th, 2023

Joby Aviation, Inc. (NYSE:JOBY – Get Rating) insider Didier Papadopoulos sold 24,141 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $6.00, for a total transaction of $144,846.00. Following the transaction, the insider now directly owns 106,155 shares in the company, valued at $636,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Didier Papadopoulos also recently made the following trade(s):

On Tuesday, April 4th, Didier Papadopoulos sold 3,659 shares of Joby Aviation stock. The shares were sold at an average price of $4.17, for a total value of $15,258.03.

Joby Aviation Trading Up 5.9 %

NYSE JOBY opened at $6.35 on Wednesday. The company has a 50 day moving average price of $4.62 and a 200 day moving average price of $4.21. Joby Aviation, Inc. has a 52 week low of $3.15 and a 52 week high of $7.15.

Joby Aviation (NYSE:JOBY – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds have recently made changes to their positions in JOBY. Toroso Investments LLC grew its stake in Joby Aviation by 28.8% during the 1st quarter. Toroso Investments LLC now owns 13,660 shares of the company’s stock valued at $59,000 after purchasing an additional 3,054 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Joby Aviation by 4.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 47,850 shares of the company’s stock worth $207,000 after buying an additional 2,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in Joby Aviation by 5.5% during the 1st quarter. Geode Capital Management LLC now owns 5,145,748 shares of the company’s stock valued at $22,333,000 after acquiring an additional 268,977 shares during the period. Gallagher Fiduciary Advisors LLC acquired a new stake in Joby Aviation during the 1st quarter valued at approximately $212,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Joby Aviation during the 1st quarter valued at approximately $1,100,000. 29.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research reports. Morgan Stanley cut their price target on Joby Aviation from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, February 27th. Deutsche Bank Aktiengesellschaft downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating and dropped their price objective for the company from $6.00 to $4.00 in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Hold” and an average target price of $6.13.

About Joby Aviation

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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.