AlphaQuest LLC Purchases Shares of 24,601 Joby Aviation, Inc. (NYSE:JOBY)

AlphaQuest LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,601 shares of the company’s stock, valued at approximately $200,000.

A number of other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. increased its holdings in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the period. Geode Capital Management LLC increased its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares during the period. State Street Corp increased its holdings in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after purchasing an additional 361,520 shares during the period. Finally, ARK Investment Management LLC increased its holdings in shares of Joby Aviation by 22.2% in the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock valued at $27,551,000 after purchasing an additional 616,193 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JOBY has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 6,205 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.10, for a total value of $50,260.50. Following the transaction, the insider now owns 215,947 shares in the company, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 10,785 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the transaction, the chief executive officer now 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. Over the last three months, insiders have sold 1,015,470 shares of company stock valued at $8,600,479. Company insiders own 32.40% of the company’s stock.

Joby Aviation Trading Up 4.3 %

Shares of JOBY opened at $6.25 on Monday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The stock’s 50 day moving average is $7.72 and its two-hundred day moving average is $6.83. The firm has a market cap of $4.92 billion, a P/E ratio of -8.92 and a beta of 2.35.

Joby Aviation Company 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.