New York State Common Retirement Fund Boosts Holdings in Joby Aviation, Inc. (NYSE:JOBY)

New York State Common Retirement Fund grew its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,751 shares of the company’s stock after purchasing an additional 15,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Joby Aviation were worth $1,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JOBY. Larson Financial Group LLC boosted its stake in shares of Joby Aviation by 218.3% in the third 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 during the period. Salem Investment Counselors Inc. lifted its stake in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the fourth quarter worth approximately $41,000. Golden State Wealth Management LLC purchased a new position in Joby Aviation in the fourth quarter worth approximately $42,000. Finally, Allworth Financial LP lifted its stake in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after acquiring an additional 3,320 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at $470,464,387.90. The trade was a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $45,938.25. Following the completion of the transaction, the insider now directly owns 54,776 shares in the company, valued at $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. Over the last quarter, insiders have sold 1,018,699 shares of company stock valued at $8,628,124. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Trading Down 8.1 %

JOBY stock opened at $6.43 on Tuesday. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The company’s 50 day moving average is $8.12 and its two-hundred day moving average is $6.75. The stock has a market cap of $4.92 billion, a P/E ratio of -9.19 and a beta of 2.33.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of 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 reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Company Profile

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.