Joby Aviation, Inc. (NYSE:JOBY) Insider Gregory Bowles Sells 3,442 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,442 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.81, for a total transaction of $23,440.02. Following the transaction, the insider now owns 36,949 shares in the company, valued at $251,622.69. This represents a 8.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Joby Aviation Stock Down 3.9 %

NYSE:JOBY traded down $0.27 during mid-day trading on Tuesday, hitting $6.50. 16,268,885 shares of the company traded hands, compared to its average volume of 13,468,663. The stock’s fifty day moving average price is $8.23 and its 200-day moving average price is $6.70. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -9.28 and a beta of 2.33. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Creative Planning boosted its holdings in Joby Aviation by 86.2% in the 3rd quarter. Creative Planning now owns 55,446 shares of the company’s stock worth $279,000 after buying an additional 25,672 shares during the period. Private Advisor Group LLC grew its position in shares of Joby Aviation by 45.3% during the third quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after purchasing an additional 10,765 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after purchasing an additional 9,188 shares in the last quarter. Modera Wealth Management LLC raised its stake in Joby Aviation by 46.9% during the 3rd quarter. Modera Wealth Management LLC now owns 23,500 shares of the company’s stock valued at $118,000 after purchasing an additional 7,500 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in Joby Aviation by 40.0% in the 3rd quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock worth $111,000 after purchasing an additional 6,000 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. Finally, Needham & Company LLC increased their target price on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.30.

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.