Joby Aviation, Inc. (NYSE:JOBY) Insider Bonny W. Simi Sells 9,695 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 9,695 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares in the company, valued at $996,259.98. This represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Joby Aviation Stock Performance

NYSE JOBY traded down $0.10 during trading on Wednesday, hitting $6.57. The stock had a trading volume of 9,399,334 shares, compared to its average volume of 10,690,938. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -9.38 and a beta of 2.35. The stock has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $6.91. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of JOBY. Toyota Motor Corp purchased a new stake in Joby Aviation in the fourth quarter worth $640,259,000. Uber Technologies Inc purchased a new position in Joby Aviation in the 4th quarter worth about $207,842,000. Vanguard Group Inc. lifted its holdings in Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after buying an additional 6,388,232 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after buying an additional 3,272,597 shares during the period. Finally, Baillie Gifford & Co. grew its stake in Joby Aviation by 4.3% in the 4th 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on JOBY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

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.