Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells 2,899 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 2,899 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $7.00, for a total transaction of $20,293.00. Following the completion of the transaction, the insider now owns 72,695 shares of the company’s stock, valued at $508,865. This represents a 3.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Joby Aviation Stock Up 2.0%

Shares of NYSE JOBY opened at $6.78 on Monday. Joby Aviation, Inc. has a 12 month low of $4.66 and a 12 month high of $10.72. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -9.69 and a beta of 2.34. The business has a fifty day simple moving average of $6.21 and a 200-day simple moving average of $7.06.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JOBY shares. 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. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, April 30th. 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 report on Friday, April 11th. Finally, Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the fourth quarter worth approximately $38,000. Allworth Financial LP boosted its stake in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation during the 4th quarter worth approximately $41,000. Toronto Dominion Bank purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.