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 the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $6.04, for a total transaction of $147,345.80. Following the transaction, the insider now owns 627,726 shares of the company’s stock, 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 available through this link.

Joby Aviation Stock Up 1.3 %

Shares of Joby Aviation stock opened at $5.86 on Friday. The company has a market capitalization of $4.62 billion, a PE ratio of -8.38 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The stock’s fifty day moving average is $6.46 and its two-hundred day moving average is $6.97.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut 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, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Joby Aviation has an average rating of “Moderate Buy” and a consensus target price of $8.58.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rheos Capital Works Inc. increased its position in shares of 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 during the period. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation during the 4th quarter valued at $418,000. Entropy Technologies LP bought a new stake in Joby Aviation during the 4th quarter valued at $300,000. Raymond James Financial Inc. bought a new position in shares of Joby Aviation during the 4th quarter worth $2,168,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after buying an additional 361,520 shares during the period. 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.