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

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,442 shares of Joby Aviation stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.81, for a total value of $23,440.02. Following the transaction, the insider now directly owns 36,949 shares in the company, valued at approximately $251,622.69. This trade represents a 8.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joby Aviation Stock Performance

Shares of JOBY opened at $6.67 on Thursday. The stock has a market capitalization of $5.10 billion, a P/E ratio of -9.52 and a beta of 2.33. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The company’s fifty day moving average is $8.17 and its two-hundred day moving average is $6.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Joby Aviation in the third quarter valued at about $518,000. Rheos Capital Works Inc. lifted its holdings in shares of Joby Aviation by 17.0% in the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after buying an additional 350,000 shares during the period. Fred Alger Management LLC boosted its stake 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 valued at $621,000 after buying an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new position in Joby Aviation during the fourth quarter worth $418,000. Finally, Entropy Technologies LP purchased a new position in Joby Aviation in the fourth quarter worth $300,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JOBY has been the topic of a number of research reports. Canaccord Genuity Group raised their target price 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. Needham & Company LLC raised their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $5.00 to $6.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

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.