Joby Aviation’s (JOBY) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $9.00 target price on the stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Trading Up 3.6 %

Shares of NYSE:JOBY opened at $7.00 on Thursday. The company has a 50 day moving average of $8.14 and a 200 day moving average of $6.73. The stock has a market cap of $5.35 billion, a P/E ratio of -9.99 and a beta of 2.33. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $10.72.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now owns 54,776 shares in the company, valued at $419,036.40. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the sale, the insider now owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,018,699 shares of company stock valued at $8,628,124 over the last 90 days. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toyota Motor Corp purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $640,259,000. Baillie Gifford & Co. lifted its holdings in Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after buying an additional 2,281,161 shares during the period. Vanguard Group Inc. grew its position in shares of Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock worth $380,163,000 after buying an additional 6,388,232 shares during the last quarter. Uber Technologies Inc purchased a new position in shares of Joby Aviation during the fourth quarter valued at approximately $207,842,000. Finally, Geode Capital Management LLC raised its holdings in shares of Joby Aviation by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after acquiring an additional 817,638 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

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.