Joby Aviation (NYSE:JOBY) Insider Sells $85,481.76 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 8,652 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $9.88, for a total transaction of $85,481.76. Following the completion of the transaction, the insider owned 144,443 shares in the company, valued at $1,427,096.84. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $10.28 on Friday. The company has a market capitalization of $9.37 billion, a P/E ratio of -7.67 and a beta of 2.57. The company has a 50 day simple moving average of $13.10 and a 200-day simple moving average of $14.71. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective on the stock. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $13.21.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOBY. Fifth Third Bancorp increased its stake in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the period. Asset Planning Inc grew its stake in shares of Joby Aviation by 70.0% in the third 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 increased its position in shares of Joby Aviation by 284.8% during the second 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 during the period. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation in the third quarter valued at $29,000. Finally, Strategic Advocates LLC acquired a new stake in shares of Joby Aviation in the third quarter valued at $29,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

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.