Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $65,732.10 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the sale, the insider now directly owns 146,941 shares of the company’s stock, valued at approximately $996,259.98. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $6.12 on Friday. The firm has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $6.91. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JOBY shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently added to or reduced their stakes in the business. Toyota Motor Corp bought a new position in Joby Aviation in the 4th quarter worth about $640,259,000. Uber Technologies Inc purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $207,842,000. Vanguard Group Inc. raised its stake in Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after purchasing an additional 6,388,232 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Joby Aviation by 331.4% during the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after purchasing an additional 3,272,597 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after buying an additional 2,281,161 shares in the last quarter. Institutional investors 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.