Renaissance Technologies LLC Takes Position in Joby Aviation, Inc. (NYSE:JOBY)

Renaissance Technologies LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 115,131 shares of the company's stock, valued at approximately $936,000.

Several other large investors also recently modified their holdings of JOBY. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the period. Baillie Gifford & Co. grew its position in Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock worth $447,412,000 after acquiring an additional 2,281,161 shares during the last quarter. Geode Capital Management LLC grew its position in Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock worth $83,015,000 after acquiring an additional 817,638 shares during the last quarter. ARK Investment Management LLC grew its position in Joby Aviation by 22.2% during the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company's stock worth $27,551,000 after acquiring an additional 616,193 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in Joby Aviation during the 4th quarter worth approximately $4,117,000. 52.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total transaction 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. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock in a transaction dated Monday, April 21st. The shares were 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 $334,219,789.53. This trade represents a 0.28 % 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 valued at $6,781,863 in the last 90 days. 32.40% of the stock is owned by company insiders.

Joby Aviation Stock Down 3.8 %

JOBY stock opened at $6.31 on Thursday. The business's fifty day moving average is $6.23 and its 200-day moving average is $7.00. The company has a market cap of $4.97 billion, a P/E ratio of -9.01 and a beta of 2.35. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JOBY. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 price objective 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $8.58.

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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