Charles Schwab Investment Management Inc. Raises Position in Joby Aviation, Inc. (NYSE:JOBY)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,894,326 shares of the company’s stock after buying an additional 361,520 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of Joby Aviation worth $31,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JOBY. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Joby Aviation in the 4th quarter worth $41,000. Golden State Wealth Management LLC purchased a new stake in shares of Joby Aviation during the 4th quarter valued at $42,000. Finally, Allworth Financial LP lifted its holdings in shares of Joby Aviation by 200.6% during the 4th 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. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares in the company, valued at approximately $1,142,018.01. This trade represents a 18.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the sale, the insider now directly owns 50,902 shares in the company, valued at approximately $509,020. This represents a 13.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,015,470 shares of company stock valued at $8,600,479. Company insiders own 32.40% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. 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, February 27th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective 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 given a buy rating to the company. Based on data from MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Price Performance

NYSE JOBY opened at $6.25 on Monday. The business’s 50-day moving average is $7.72 and its 200 day moving average is $6.83. The stock has a market capitalization of $4.92 billion, a PE ratio of -8.92 and a beta of 2.35. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72.

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.