Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $71,939.42 in Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Bonny W. Simi sold 12,382 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $5.81, for a total value of $71,939.42. Following the completion of the transaction, the insider now directly owns 203,588 shares of the company's stock, valued at $1,182,846.28. This trade represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Joby Aviation Stock Performance

Joby Aviation stock traded up $0.23 during mid-day trading on Thursday, reaching $6.39. 4,100,312 shares of the company were exchanged, compared to its average volume of 11,429,425. The firm has a market cap of $5.03 billion, a PE ratio of -9.12 and a beta of 2.35. The firm's 50-day simple moving average is $6.34 and its two-hundred day simple moving average is $6.98. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. 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, Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.58.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after buying an additional 5,015 shares during the last quarter. Whittier Trust Co. purchased a new position in Joby Aviation during the fourth quarter worth about $38,000. Salem Investment Counselors Inc. lifted its position in 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 during the period. Compagnie Lombard Odier SCmA acquired a new position in Joby Aviation during the 4th quarter worth approximately $41,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the 4th quarter worth approximately $41,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.