Joby Aviation (NYSE:JOBY) Receives Buy Rating from Needham & Company LLC

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

Several other equities analysts have also recently weighed in on JOBY. Canaccord Genuity Group raised their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Trading Up 1.0 %

Shares of NYSE JOBY opened at $6.77 on Thursday. The company has a fifty day moving average price of $8.16 and a 200 day moving average price of $6.71. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $10.72. The firm has a market cap of $5.18 billion, a PE ratio of -9.66 and a beta of 2.33.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 54,776 shares of the company’s stock, valued at $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the sale, the insider now directly owns 202,276 shares of the company’s stock, valued at $1,502,910.68. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,018,699 shares of company stock worth $8,628,124. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of the business. Toyota Motor Corp bought a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $640,259,000. Baillie Gifford & Co. lifted its position in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after acquiring an additional 2,281,161 shares during the period. Vanguard Group Inc. grew its holdings 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 in the last quarter. Uber Technologies Inc acquired a new stake in shares of Joby Aviation during the 4th quarter worth $207,842,000. Finally, Geode Capital Management LLC raised its stake in Joby Aviation by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after purchasing an additional 817,638 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

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.