25,564,794 Shares in Joby Aviation, Inc. (NYSE:JOBY) Purchased by Uber Technologies Inc

Uber Technologies Inc bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 25,564,794 shares of the company's stock, valued at approximately $207,842,000. Joby Aviation makes up approximately 4.3% of Uber Technologies Inc's portfolio, making the stock its 3rd largest position. Uber Technologies Inc owned 3.34% of Joby Aviation at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bouvel Investment Partners LLC lifted its holdings in shares of Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,715 shares during the last quarter. NewEdge Advisors LLC increased its position in Joby Aviation by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock worth $175,000 after buying an additional 1,935 shares during the period. Private Advisor Group LLC lifted its stake in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock valued at $299,000 after buying an additional 2,261 shares during the last quarter. Larson Financial Group LLC lifted its stake in Joby Aviation by 35.3% in the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock valued at $80,000 after buying an additional 2,574 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Joby Aviation by 32.7% in the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock valued at $109,000 after acquiring an additional 3,308 shares during the period. Institutional investors and hedge funds own 52.85% of the company's stock.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group lifted 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. 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 research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and a consensus target price of $8.58.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the sale, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kate Dehoff sold 6,903 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares in the company, valued at $1,502,910.68. The trade was a 3.30 % 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 three months. 32.40% of the stock is currently owned by company insiders.

Joby Aviation Stock Performance

JOBY traded up $0.41 during trading on Friday, reaching $6.72. The company's stock had a trading volume of 13,876,964 shares, compared to its average volume of 11,630,493. The company's fifty day moving average price is $6.22 and its 200-day moving average price is $7.02. Joby Aviation, Inc. has a 52-week low of $4.66 and a 52-week high of $10.72. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -9.60 and a beta of 2.35.

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.