KLP Kapitalforvaltning AS Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

KLP Kapitalforvaltning AS acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 38,200 shares of the company’s stock, valued at approximately $311,000.

Several other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the period. State Street Corp grew its position in Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares in the last quarter. Geode Capital Management LLC grew its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. ARK Investment Management LLC raised its holdings 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 acquiring an additional 616,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Joby Aviation by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after acquiring an additional 361,520 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,275,793 shares in the company, valued at approximately $190,104,420.77. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,425,831 shares of company stock worth $11,119,208. Insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $5.36 on Friday. 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 $4.22 billion, a P/E ratio of -7.65 and a beta of 2.35. The company has a 50-day moving average price of $6.96 and a 200-day moving average price of $6.94.

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.