Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $147,345.80 in Stock

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

Joby Aviation Stock Down 2.6 %

NYSE JOBY traded down $0.16 during trading hours on Tuesday, hitting $5.87. The company had a trading volume of 8,721,383 shares, compared to its average volume of 11,252,136. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The firm has a market cap of $4.62 billion, a P/E ratio of -8.38 and a beta of 2.35. The business has a fifty day simple moving average of $6.58 and a 200-day simple moving average of $6.98.

Institutional Trading of Joby Aviation

Several hedge funds have recently bought and sold shares of JOBY. GAMMA Investing LLC grew its position in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after purchasing an additional 5,015 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter worth approximately $38,000. Salem Investment Counselors Inc. grew its holdings in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation in the 4th quarter valued at approximately $41,000. Finally, Toronto Dominion Bank bought a new stake in Joby Aviation during the 4th quarter valued at $41,000. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JOBY shares. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.