Joeben Bevirt Sells 250,000 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the transaction, the chief executive officer now directly owns 32,275,793 shares in the company, valued at $190,104,420.77. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 5th, Joeben Bevirt sold 1,655 shares of Joby Aviation stock. The shares were sold at an average price of $6.59, for a total transaction of $10,906.45.
• On Thursday, February 13th, Joeben Bevirt sold 10,785 shares of Joby Aviation stock. The shares were sold at an average price of $7.43, for a total value of $80,132.55.
• 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 shares were 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 transaction of $2,460,000.00.

Joby Aviation Trading Down 5.4 %

JOBY opened at $5.36 on Friday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The stock has a 50-day moving average of $6.96 and a 200 day moving average of $6.93. The firm has a market cap of $4.22 billion, a P/E ratio of -7.65 and a beta of 2.35.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Hedge Funds Weigh In On Joby Aviation

Several large investors have recently modified their holdings of JOBY. Toyota Motor Corp purchased a new position in Joby Aviation during the fourth quarter worth $640,259,000. Baillie Gifford & Co. lifted its holdings in shares of 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 acquiring an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock worth $380,163,000 after purchasing an additional 6,388,232 shares during the period. Uber Technologies Inc bought a new position in Joby Aviation during the 4th quarter valued at about $207,842,000. Finally, Geode Capital Management LLC raised its position in Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock worth $83,015,000 after purchasing an additional 817,638 shares during the period. 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.