Joby Aviation, Inc. (NYSE:JOBY) Receives Average Rating of “Moderate Buy” from Analysts

Joby Aviation, Inc. (NYSE:JOBY) has received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.90.

Several research analysts have issued reports on JOBY shares. Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares in the company, valued at $5,892,257.48. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,205 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the sale, the insider now owns 215,947 shares of the company’s stock, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,171,610 shares of company stock valued at $8,602,385 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently bought and sold shares of the company. Toyota Motor Corp acquired a new position in shares of Joby Aviation during the 4th quarter worth $640,259,000. Baillie Gifford & Co. lifted its holdings in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the last quarter. Uber Technologies Inc purchased a new position in shares of Joby Aviation during the 4th quarter worth approximately $207,842,000. Finally, Geode Capital Management LLC raised its position in shares of Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock worth $83,015,000 after purchasing an additional 817,638 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $6.00 on Friday. The firm’s fifty day simple moving average is $6.67 and its 200-day simple moving average is $6.96. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $10.72. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -8.56 and a beta of 2.35.

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.