LPL Financial LLC Boosts Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

LPL Financial LLC lifted its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 36.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,647 shares of the company's stock after purchasing an additional 43,644 shares during the period. LPL Financial LLC's holdings in Joby Aviation were worth $1,322,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JOBY. State Street Corp grew its position in shares of Joby Aviation by 9.5% during the 3rd 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 holdings in Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Tidal Investments LLC increased its position in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock valued at $147,000 after purchasing an additional 3,522 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Joby Aviation in the 4th quarter valued at about $142,000. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth approximately $154,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the company's stock in a transaction that occurred on 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 owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bonny W. Simi sold 9,695 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now directly owns 146,941 shares of the company's stock, valued at $996,259.98. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,161 shares of company stock valued at $6,781,863 in the last ninety days. Company insiders own 32.40% of the company's stock.

Joby Aviation Price Performance

Joby Aviation stock traded up $0.08 during mid-day trading on Tuesday, reaching $5.89. 8,256,199 shares of the company traded hands, compared to its average volume of 11,412,590. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The firm's fifty day moving average is $6.37 and its two-hundred day moving average is $6.98. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -8.41 and a beta of 2.35.

Analyst Ratings Changes

Several brokerages recently issued reports on JOBY. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective 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 set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

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.