Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 24,395 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 24,395 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $6.04, for a total transaction of $147,345.80. Following the sale, the insider now owns 627,726 shares in the company, valued at $3,791,465.04. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded down $0.16 during midday trading on Tuesday, reaching $5.87. The company had a trading volume of 8,721,383 shares, compared to its average volume of 11,252,136. The company has a fifty day simple moving average of $6.58 and a two-hundred day simple moving average of $6.98. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -8.38 and a beta of 2.35. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation 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 company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reiterated 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. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company 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.com, Joby Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $8.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after acquiring an additional 5,015 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $38,000. Salem Investment Counselors Inc. lifted its holdings in shares of Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after purchasing an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Joby Aviation in the fourth quarter worth $41,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the fourth quarter valued at $41,000. 52.85% of the stock is currently 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.