Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $12,681.10 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 1,202 shares of Joby Aviation stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.55, for a total value of $12,681.10. Following the completion of the transaction, the insider directly owned 129,286 shares of the company’s stock, valued at approximately $1,363,967.30. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $9.90 on Friday. The business’s 50-day moving average is $13.52 and its 200-day moving average is $14.90. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of -7.39 and a beta of 2.57.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the last quarter. Asset Planning Inc grew its stake in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of Joby Aviation in the third quarter valued at about $29,000. Finally, Strategic Advocates LLC bought a new position in shares of Joby Aviation during the third quarter valued at about $29,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JOBY shares. Canaccord Genuity Group reiterated a “hold” rating and set a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. JPMorgan Chase & Co. upped their price target on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. The Goldman Sachs Group assumed coverage on Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target on the stock. Finally, Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation currently has an average rating of “Reduce” and an average price target of $13.21.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.