Joby Aviation’s (JOBY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other brokerages have also recently issued reports on JOBY. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their target price for the company 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 stock. According to MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $7.00 on Thursday. The business has a 50-day moving average of $8.14 and a two-hundred day moving average of $6.73. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -9.99 and a beta of 2.33. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $10.72.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 10,785 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares in the company, valued at $5,892,257.48. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the transaction, the insider now directly owns 137,097 shares in the company, valued at approximately $1,142,018.01. This trade represents a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,018,699 shares of company stock worth $8,628,124 over the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Toyota Motor Corp purchased a new stake in Joby Aviation during the 4th quarter worth $640,259,000. Uber Technologies Inc acquired a new stake in shares of Joby Aviation during the fourth quarter valued at about $207,842,000. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Joby Aviation by 331.4% during the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock worth $34,634,000 after acquiring an additional 3,272,597 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after acquiring an additional 2,281,161 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.