Soros Fund Management LLC Makes New $1.10 Million Investment in Joby Aviation, Inc. (NYSE:JOBY)

Soros Fund Management LLC bought a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 134,957 shares of the company's stock, valued at approximately $1,097,000.

Several other hedge funds have also modified their holdings of JOBY. Tidal Investments LLC lifted its holdings in Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock worth $147,000 after buying an additional 3,522 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Joby Aviation in the fourth quarter worth about $142,000. Watts Gwilliam & Co. LLC acquired a new position in shares of Joby Aviation in the fourth quarter worth about $154,000. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Hamilton Lane Advisors LLC acquired a new stake in Joby Aviation during the 4th quarter valued at approximately $418,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $5.73, for a total transaction of $955,001.91. Following the completion of the transaction, the director now owns 58,328,061 shares of the company's stock, valued at approximately $334,219,789.53. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $80,132.55. Following the completion of the sale, the chief executive officer now directly 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 sold a total of 1,002,161 shares of company stock worth $6,781,863 over the last ninety days. Company insiders own 32.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research note on Wednesday, January 8th. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price objective 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 assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.58.

Joby Aviation Price Performance

Shares of NYSE:JOBY traded up $0.41 during trading on Friday, reaching $6.72. 13,876,964 shares of the company's stock traded hands, compared to its average volume of 11,630,493. The stock has a market capitalization of $5.29 billion, a P/E ratio of -9.60 and a beta of 2.35. Joby Aviation, Inc. has a 12 month low of $4.66 and a 12 month high of $10.72. The company has a 50 day moving average of $6.22 and a 200-day moving average of $7.02.

About Joby Aviation

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.