Joby Aviation, Inc. (NYSE:JOBY) Insider Eric Allison Sells 24,395 Shares

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Eric Allison sold 24,395 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $6.04, for a total transaction of $147,345.80. Following the completion of the transaction, the insider now directly owns 627,726 shares of the company's stock, valued at $3,791,465.04. This represents a 3.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Joby Aviation Price Performance

Shares of NYSE JOBY traded up $0.07 during trading hours on Friday, hitting $5.86. 11,563,126 shares of the stock were exchanged, compared to its average volume of 11,406,765. The firm has a market capitalization of $4.62 billion, a P/E ratio of -8.38 and a beta of 2.35. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The company's 50 day moving average is $6.43 and its 200 day moving average is $6.98.

Institutional Trading of Joby Aviation

Several hedge funds have recently added to or reduced their stakes in JOBY. State Street Corp boosted its position in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company's stock valued at $47,144,000 after acquiring an additional 812,248 shares during the period. Geode Capital Management LLC boosted its holdings in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after purchasing an additional 670,852 shares during the period. Tidal Investments LLC grew its position in Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock worth $147,000 after purchasing an additional 3,522 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Joby Aviation during the fourth quarter valued at about $142,000. Finally, Watts Gwilliam & Co. LLC acquired a new stake in Joby Aviation during the fourth quarter worth about $154,000. Institutional investors own 52.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.58.

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.