Joby Aviation (NYSE:JOBY) Trading 3.6% Higher – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) traded up 3.6% during trading on Monday . The stock traded as high as $7.91 and last traded at $7.86. 14,010,559 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 10,840,079 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JOBY shares. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group upped their target price on shares of 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 lifted their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Joby Aviation Stock Performance

The firm has a market cap of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33. The firm’s fifty day moving average is $8.30 and its 200 day moving average is $6.60.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,025,284 shares of company stock worth $8,683,241 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after acquiring an additional 2,281,161 shares during the period. Vanguard Group Inc. boosted its position in 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 buying an additional 6,388,232 shares in the last quarter. Uber Technologies Inc bought a new stake in Joby Aviation during the 4th quarter worth $207,842,000. Geode Capital Management LLC increased its stake in shares of Joby Aviation by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after buying an additional 817,638 shares during the period. Finally, State Street Corp increased its position in Joby Aviation by 9.5% in the 3rd 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. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.