Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 10,785 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares of the company’s stock, valued at $5,892,257.48. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Joeben Bevirt also recently made the following trade(s):

• On Tuesday, February 11th, Joeben Bevirt sold 1,706 shares of Joby Aviation stock. The stock was sold at an average price of $7.50, for a total value of $12,795.00.
• On Wednesday, January 15th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The stock was sold at an average price of $8.35, for a total value of $13,819.25.
• On Monday, January 6th, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The stock was sold at an average price of $9.84, for a total value of $2,460,000.00.
• On Thursday, January 2nd, Joeben Bevirt sold 23,886 shares of Joby Aviation stock. The stock was sold at an average price of $8.08, for a total value of $192,998.88.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $7.86 on Monday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33. The business’s 50-day simple moving average is $8.30 and its 200-day simple moving average is $6.60. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JOBY. 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 research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Needham & Company LLC raised their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bouvel Investment Partners LLC increased its holdings in shares of Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,715 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock valued at $175,000 after acquiring an additional 1,935 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in shares of Joby Aviation by 3.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after acquiring an additional 2,000 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Joby Aviation by 6.6% during the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock valued at $299,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Joby Aviation by 35.3% during the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock valued at $80,000 after acquiring an additional 2,574 shares during the last quarter. Institutional investors and hedge funds 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.