Private Advisor Group LLC Raises Position in Joby Aviation, Inc. (NYSE:JOBY)

Private Advisor Group LLC raised its position in Joby Aviation, Inc. (NYSE:JOBY) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,774 shares of the company’s stock after purchasing an additional 2,261 shares during the period. Private Advisor Group LLC’s holdings in Joby Aviation were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in shares of Joby Aviation by 218.3% in the 3rd 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 last quarter. Salem Investment Counselors Inc. increased its position 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 valued at $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the 4th quarter valued at $41,000. Golden State Wealth Management LLC acquired a new position in Joby Aviation in the 4th quarter valued at $42,000. Finally, Allworth Financial LP increased its position in 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 purchasing an additional 3,320 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

Shares of JOBY opened at $6.78 on Thursday. The stock has a fifty day moving average of $8.06 and a two-hundred day moving average of $6.76. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The company has a market capitalization of $5.18 billion, a PE ratio of -9.68 and a beta of 2.33.

Analysts Set New Price Targets

JOBY has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group upped 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. JPMorgan Chase & Co. cut their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report 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’s stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Insider Activity

In other news, CEO Joeben Bevirt sold 10,785 shares of Joby Aviation stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the sale, the chief executive officer now owns 793,036 shares in the company, valued at $5,892,257.48. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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. Insiders sold a total of 1,018,699 shares of company stock valued at $8,628,124 in the last 90 days. 32.40% of the stock is currently owned by insiders.

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.