Steward Partners Investment Advisory LLC Acquires 8,427 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Steward Partners Investment Advisory LLC increased its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 488.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,154 shares of the company’s stock after buying an additional 8,427 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Joby Aviation were worth $83,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of JOBY. Intech Investment Management LLC acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $518,000. Rheos Capital Works Inc. increased its position in shares of Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after purchasing an additional 350,000 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after purchasing an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation during the 4th quarter worth about $418,000. Finally, Entropy Technologies LP bought a new stake in Joby Aviation during the 4th quarter worth about $300,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Insiders Place Their Bets

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the transaction, the insider now directly owns 50,902 shares of the company’s stock, valued at $509,020. The trade was a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,325,793 shares of the company’s stock, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,015,470 shares of company stock valued at $8,600,479 over the last ninety days. 32.40% of the stock is currently owned by company insiders.

Joby Aviation Trading Up 3.3 %

NYSE:JOBY opened at $6.45 on Tuesday. The firm has a fifty day simple moving average of $7.66 and a 200 day simple moving average of $6.84. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72. The stock has a market capitalization of $5.08 billion, a PE ratio of -9.21 and a beta of 2.35.

Joby Aviation 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.