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

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 2,899 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $7.00, for a total value of $20,293.00. Following the transaction, the insider now directly owns 72,695 shares in the company, valued at $508,865. This represents a 3.83% 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

Shares of JOBY stock opened at $7.19 on Wednesday. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The firm has a market capitalization of $5.66 billion, a PE ratio of -10.27 and a beta of 2.34. The stock’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $7.08.

Analysts Set New Price Targets

Several research analysts recently issued reports on JOBY shares. Canaccord Genuity Group upped their target price on Joby Aviation from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective 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 reissued an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in JOBY. Bouvel Investment Partners LLC raised its holdings in Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after buying an additional 1,715 shares during the period. NewEdge Advisors LLC increased its stake in Joby Aviation by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the period. Xponance Inc. increased its stake in Joby Aviation by 6.5% during the first quarter. Xponance Inc. now owns 32,635 shares of the company’s stock worth $196,000 after purchasing an additional 1,993 shares during the period. Gallagher Fiduciary Advisors LLC increased its stake in Joby Aviation by 3.1% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares during the period. Finally, California State Teachers Retirement System increased its stake in Joby Aviation by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 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.