Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $23,440.02 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,442 shares of Joby Aviation stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.81, for a total transaction of $23,440.02. Following the completion of the transaction, the insider now owns 36,949 shares in the company, valued at approximately $251,622.69. The trade was a 8.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Trading Up 1.0 %

Shares of JOBY opened at $6.77 on Friday. The firm’s 50-day moving average price is $8.16 and its 200-day moving average price is $6.71. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -9.66 and a beta of 2.33. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of Joby Aviation during the 3rd quarter valued at about $518,000. Rheos Capital Works Inc. boosted its stake in Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after acquiring an additional 350,000 shares in the last quarter. Fred Alger Management LLC boosted its stake in Joby Aviation by 89.4% during the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after acquiring an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation during the fourth quarter worth about $418,000. Finally, Entropy Technologies LP bought a new stake in Joby Aviation during the fourth quarter worth about $300,000. Institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

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

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.