Northern Trust Corp Buys 672,946 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Northern Trust Corp grew its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 19.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,115,380 shares of the company's stock after acquiring an additional 672,946 shares during the quarter. Northern Trust Corp owned about 0.54% of Joby Aviation worth $33,458,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $38,000. Salem Investment Counselors Inc. raised its position in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation during the 4th quarter worth approximately $41,000. Golden State Wealth Management LLC acquired a new position in shares of Joby Aviation during the 4th quarter worth approximately $42,000. Finally, Allworth Financial LP raised its position 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 purchasing an additional 3,320 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded up $0.22 during mid-day trading on Monday, reaching $7.00. The company had a trading volume of 11,047,323 shares, compared to its average volume of 11,767,730. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $10.72. The stock has a fifty day moving average of $6.21 and a two-hundred day moving average of $7.06. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -9.99 and a beta of 2.34.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JOBY. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, May 5th. Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a report 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 assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has a consensus rating of "Moderate Buy" and an average price target of $8.67.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the transaction, the chief executive officer now owns 32,275,793 shares in the company, valued at $190,104,420.77. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Cahill Sciarra sold 166,667 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $5.73, for a total value of $955,001.91. Following the transaction, the director now owns 58,328,061 shares in the company, valued at approximately $334,219,789.53. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 671,726 shares of company stock worth $4,128,817. 28.50% of the stock is owned by corporate insiders.

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.