Joby Aviation (NYSE:JOBY) Stock Price Down 1.1% After Insider Selling

Shares of Joby Aviation, Inc. (NYSE:JOBY) fell 1.1% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $5.92 and last traded at $5.96. 3,848,047 shares traded hands during trading, a decline of 66% from the average session volume of 11,234,801 shares. The stock had previously closed at $6.02.

Specifically, insider Eric Allison sold 24,395 shares of Joby Aviation stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $6.04, for a total value of $147,345.80. Following the completion of the transaction, the insider now directly owns 627,726 shares of the company’s stock, valued at approximately $3,791,465.04. The trade was a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

JOBY has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group raised 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. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.58.

Joby Aviation Price Performance

The firm has a market capitalization of $4.63 billion, a PE ratio of -8.41 and a beta of 2.35. The business has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $6.96.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JOBY. Whittier Trust Co. purchased a new stake in shares of Joby Aviation in the 4th quarter worth $38,000. Allworth Financial LP increased its holdings in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation during the fourth quarter worth $41,000. Toronto Dominion Bank bought a new stake in Joby Aviation during the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Joby Aviation in the 4th quarter worth $41,000. 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.