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

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction dated Monday, March 24th. The shares were 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 of the company’s stock, valued at $996,259.98. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Joby Aviation Trading Down 1.4 %

Shares of JOBY traded down $0.10 during midday trading on Wednesday, hitting $6.57. 9,399,334 shares of the company’s stock traded hands, 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. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The firm’s fifty day moving average is $7.36 and its 200-day moving average is $6.91.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JOBY. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. 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 report on Thursday, February 27th. 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 report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in shares of Joby Aviation during the third quarter valued at about $51,000. Intech Investment Management LLC acquired a new position in Joby Aviation during the 3rd quarter valued at approximately $518,000. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Joby Aviation in the 3rd quarter worth $79,000. Finally, Verition Fund Management LLC lifted its position in Joby Aviation by 118.9% during the 3rd quarter. Verition Fund Management LLC now owns 78,339 shares of the company’s stock worth $394,000 after acquiring an additional 42,544 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.