Wealthfront Advisers LLC Boosts Stake in Joby Aviation, Inc. (NYSE:JOBY)

Wealthfront Advisers LLC lifted its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 148.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,010 shares of the company’s stock after purchasing an additional 20,298 shares during the quarter. Wealthfront Advisers LLC’s holdings in Joby Aviation were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of JOBY. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. increased its position in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation during the fourth quarter valued at $41,000. Golden State Wealth Management LLC purchased a new stake in Joby Aviation during the fourth quarter valued at $42,000. Finally, Allworth Financial LP increased its position in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 7,692 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the transaction, the insider now owns 50,902 shares of the company’s stock, valued at $509,020. This represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the transaction, 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. Insiders sold a total of 1,015,470 shares of company stock valued at $8,600,479 over the last 90 days. Company insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on JOBY shares. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group upped their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Stock Up 3.3 %

Shares of JOBY opened at $6.45 on Tuesday. The business has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $6.84. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -9.21 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

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.