Voya Investment Management LLC lessened its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 974,352 shares of the company's stock after selling 197,736 shares during the period. Voya Investment Management LLC owned about 0.13% of Joby Aviation worth $7,921,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. purchased a new position in shares of Joby Aviation during the fourth quarter worth approximately $38,000. Salem Investment Counselors Inc. increased its holdings in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after purchasing an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of Joby Aviation in the fourth quarter valued at about $41,000. Golden State Wealth Management LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth approximately $42,000. Finally, Allworth Financial LP lifted its holdings in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares during the period. Institutional investors own 52.85% of the company's stock.
Joby Aviation Stock Up 6.5 %
NYSE JOBY traded up $0.41 during trading hours on Friday, hitting $6.72. 13,876,964 shares of the stock were exchanged, compared to its average volume of 11,660,225. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $10.72. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -9.60 and a beta of 2.35. The stock has a 50-day moving average of $6.22 and a 200 day moving average of $7.03.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on JOBY shares. Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.58.
Get Our Latest Analysis on Joby Aviation
Insider Buying and Selling
In related news, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares of the company's stock, valued at approximately $5,892,257.48. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares of the company's stock, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,002,161 shares of company stock valued at $6,781,863. 32.40% of the stock is owned by insiders.
About Joby Aviation
(
Free Report)
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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