Raymond James Financial Inc. Purchases New Position in Joby Aviation, Inc. (NYSE:JOBY)

Raymond James Financial Inc. acquired a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 266,705 shares of the company's stock, valued at approximately $2,168,000.

Several other large investors have also bought and sold shares of the company. Rheos Capital Works Inc. boosted its position in shares of Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock valued at $19,553,000 after purchasing an additional 350,000 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in shares of Joby Aviation during the 4th quarter valued at $418,000. Entropy Technologies LP bought a new stake in shares of Joby Aviation during the 4th quarter valued at $300,000. Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after acquiring an additional 361,520 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Joby Aviation in the 4th quarter worth about $311,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

Shares of JOBY opened at $6.31 on Thursday. Joby Aviation, Inc. has a one year low of $4.66 and a one year high of $10.72. The business has a fifty day moving average of $6.23 and a 200 day moving average of $7.00. The firm has a market capitalization of $4.97 billion, a P/E ratio of -9.01 and a beta of 2.35.

Analyst Ratings Changes

A number of research firms recently weighed in on JOBY. HC Wainwright reaffirmed a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Insider Activity

In other news, insider Kate Dehoff sold 6,903 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the sale, the insider now owns 202,276 shares of the company's stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,002,161 shares of company stock valued at $6,781,863 in the last quarter. 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.

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