Joby Aviation, Inc. (NYSE:JOBY) Insider Bonny W. Simi Sells 9,695 Shares

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 transaction, the insider now owns 146,941 shares of the company’s stock, valued at approximately $996,259.98. This represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Joby Aviation Stock Down 1.4 %

JOBY stock opened at $6.57 on Thursday. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of -9.38 and a beta of 2.35. The business’s fifty day simple moving average is $7.33 and its two-hundred day simple moving average is $6.91.

Analysts Set New Price Targets

A number of brokerages have recently commented on JOBY. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.90.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JOBY. Intech Investment Management LLC purchased a new position in shares of Joby Aviation during the third quarter worth approximately $518,000. Rheos Capital Works Inc. increased its holdings in Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after purchasing an additional 350,000 shares during the period. Fred Alger Management LLC raised its position in Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after purchasing an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC bought a new position in shares of Joby Aviation during the 4th quarter worth $418,000. Finally, Entropy Technologies LP purchased a new position in shares of Joby Aviation during the fourth quarter valued at $300,000. Hedge funds and other 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.