Joby Aviation’s (JOBY) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock.

JOBY has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Stock Up 1.0 %

Joby Aviation stock opened at $6.77 on Thursday. The stock has a market cap of $5.18 billion, a PE ratio of -9.66 and a beta of 2.33. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $10.72. The business’s 50-day moving average price is $8.16 and its two-hundred day moving average price is $6.71.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the sale, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,018,699 shares of company stock worth $8,628,124 over the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in Joby Aviation during the 4th quarter worth approximately $38,000. Allworth Financial LP increased its holdings in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation during the fourth quarter worth approximately $41,000. Toronto Dominion Bank acquired a new stake in Joby Aviation in the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in Joby Aviation during the 4th quarter valued at $41,000. 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.