Joby Aviation, Inc. (NYSE:JOBY) Insider Eric Allison Sells 24,395 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 24,395 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $6.04, for a total value of $147,345.80. Following the sale, the insider now owns 627,726 shares in the company, valued at $3,791,465.04. This trade represents a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joby Aviation Stock Performance

Shares of JOBY opened at $5.87 on Wednesday. The firm has a fifty day moving average of $6.54 and a 200-day moving average of $6.97. The company has a market cap of $4.62 billion, a price-to-earnings ratio of -8.38 and a beta of 2.35. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Toyota Motor Corp acquired a new stake in Joby Aviation during the fourth quarter valued at approximately $640,259,000. Baillie Gifford & Co. lifted its position in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after acquiring an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock worth $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Uber Technologies Inc acquired a new stake in shares of Joby Aviation during the fourth quarter worth $207,842,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after purchasing an additional 817,638 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.58.

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.