Proficio Capital Partners LLC Invests $145,000 in Joby Aviation, Inc. (NYSE:JOBY)

Proficio Capital Partners LLC purchased a new stake in Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,845 shares of the company’s stock, valued at approximately $145,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ARK Investment Management LLC grew its stake in Joby Aviation by 22.2% in the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock valued at $27,551,000 after buying an additional 616,193 shares during the last quarter. Sprott Inc. acquired a new position in Joby Aviation in the 4th quarter valued at about $138,000. Bank of New York Mellon Corp boosted its holdings in Joby Aviation by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,279,027 shares of the company’s stock valued at $10,398,000 after purchasing an additional 84,080 shares during the period. EDBI Pte Ltd boosted its holdings in Joby Aviation by 0.6% in the 4th quarter. EDBI Pte Ltd now owns 3,022,543 shares of the company’s stock valued at $24,573,000 after purchasing an additional 17,994 shares during the period. Finally, Wealthspire Advisors LLC bought a new stake in Joby Aviation in the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction 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. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,021,475 shares of company stock worth $8,646,418 over the last three months. 32.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JOBY shares. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Finally, 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. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $6.31 on Thursday. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The firm has a 50 day moving average price of $7.84 and a two-hundred day moving average price of $6.81. The stock has a market cap of $4.97 billion, a P/E ratio of -9.01 and a beta of 2.35.

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.