Invesco Ltd. Reduces Stake in Joby Aviation, Inc. (NYSE:JOBY)

Invesco Ltd. lessened its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 837,535 shares of the company's stock after selling 246,464 shares during the period. Invesco Ltd. owned 0.11% of Joby Aviation worth $6,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Bouvel Investment Partners LLC raised its position in shares of Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock worth $1,007,000 after purchasing an additional 1,715 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Joby Aviation by 6.6% during the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock worth $299,000 after purchasing an additional 2,261 shares during the last quarter. Larson Financial Group LLC grew its stake in Joby Aviation by 35.3% during the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock valued at $80,000 after acquiring an additional 2,574 shares in the last quarter. Empowered Funds LLC lifted its position in Joby Aviation by 32.7% during the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock worth $109,000 after buying an additional 3,308 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Insiders Place Their Bets

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the sale, the insider now owns 146,941 shares in the company, valued at $996,259.98. This represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 10,785 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the sale, the chief executive officer now owns 793,036 shares in the company, valued at approximately $5,892,257.48. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,161 shares of company stock worth $6,781,863 in the last quarter. 32.40% of the stock is owned by company insiders.

Analyst Ratings Changes

JOBY has been the topic of a number of recent research reports. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC reissued 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. decreased their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target 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, one has assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.58.

Joby Aviation Trading Down 0.8 %

JOBY traded down $0.05 during mid-day trading on Monday, hitting $6.45. 11,320,852 shares of the stock were exchanged, compared to its average volume of 11,531,933. The firm's fifty day moving average is $6.26 and its two-hundred day moving average is $7.01. Joby Aviation, Inc. has a 1-year low of $4.66 and a 1-year high of $10.72. The company has a market cap of $5.08 billion, a PE ratio of -9.21 and a beta of 2.35.

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.