Bonny W. Simi Sells 12,382 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 12,382 shares of Joby Aviation stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $5.81, for a total value of $71,939.42. Following the completion of the sale, the insider now directly owns 203,588 shares in the company, valued at $1,182,846.28. This represents a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Joby Aviation Trading Down 1.4 %

Shares of Joby Aviation stock traded down $0.08 during trading on Monday, hitting $5.81. 8,396,444 shares of the stock were exchanged, compared to its average volume of 11,394,728. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -8.30 and a beta of 2.35. The company has a fifty day moving average price of $6.43 and a 200-day moving average price of $6.99.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JOBY. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group boosted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.58.

Institutional Trading of Joby Aviation

Hedge funds have recently made changes to their positions in the business. Bouvel Investment Partners LLC grew its stake in Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after buying an additional 1,715 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Joby Aviation by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its holdings in shares of Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after purchasing an additional 2,000 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock valued at $1,512,000 after purchasing an additional 2,065 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position 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 worth $299,000 after buying an additional 2,261 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.