Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) CEO Sells 10,785 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the sale, the chief executive officer now directly owns 793,036 shares of the company’s stock, valued at $5,892,257.48. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Joeben Bevirt also recently made the following trade(s):

• On Tuesday, February 11th, Joeben Bevirt sold 1,706 shares of Joby Aviation stock. The stock was sold at an average price of $7.50, for a total value of $12,795.00.
• On Wednesday, January 15th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The stock was sold at an average price of $8.35, for a total value of $13,819.25.
• On Monday, January 6th, Joeben Bevirt sold 250,000 shares of Joby Aviation stock. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00.
• On Thursday, January 2nd, Joeben Bevirt sold 23,886 shares of Joby Aviation stock. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88.

Joby Aviation Price Performance

JOBY stock opened at $7.86 on Friday. The company has a market capitalization of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The firm’s fifty day simple moving average is $8.30 and its 200-day simple moving average is $6.60.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC raised its stake in shares of Joby Aviation by 1.4% during 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 last quarter. NewEdge Advisors LLC grew its holdings 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 acquiring an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC raised its position in Joby Aviation by 3.1% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after acquiring an additional 2,000 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock valued at $299,000 after acquiring an additional 2,261 shares during the period. Finally, Larson Financial Group LLC boosted its position in Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.