Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $23,440.02 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,442 shares of the stock in a transaction that occurred on 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 approximately $251,622.69. This represents a 8.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Joby Aviation Stock Down 3.9 %

NYSE:JOBY opened at $6.50 on Wednesday. The firm has a 50 day moving average of $8.19 and a 200 day moving average of $6.71. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -9.28 and a beta of 2.33. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Joby Aviation in the third quarter worth $518,000. Rheos Capital Works Inc. raised its holdings in shares of Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after buying an additional 350,000 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Joby Aviation by 89.4% in the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after buying an additional 58,229 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Joby Aviation in the fourth quarter worth $418,000. Finally, Entropy Technologies LP purchased a new position in shares of Joby Aviation in the fourth quarter worth $300,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.