Rhumbline Advisers Raises Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Rhumbline Advisers lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 594,419 shares of the company’s stock after acquiring an additional 47,070 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Joby Aviation worth $4,833,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Bouvel Investment Partners LLC boosted its position in shares of Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,715 shares during the period. Empowered Funds LLC lifted its stake in Joby Aviation by 32.7% in the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after purchasing an additional 3,308 shares in the last quarter. Tidal Investments LLC boosted its holdings in Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the period. Kensington Investment Counsel LLC boosted its holdings in Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after purchasing an additional 3,653 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JOBY shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group lifted 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $6.77 on Friday. The stock has a 50 day moving average price of $8.16 and a 200-day moving average price of $6.71. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of -9.66 and a beta of 2.33.

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.