Independent Advisor Alliance Has $182,000 Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

Independent Advisor Alliance increased its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,350 shares of the company’s stock after purchasing an additional 3,481 shares during the period. Independent Advisor Alliance’s holdings in Joby Aviation were worth $182,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. increased its position in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Joby Aviation in the 4th quarter valued at about $41,000. Golden State Wealth Management LLC bought a new stake in Joby Aviation in the 4th quarter valued at about $42,000. Finally, Allworth Financial LP increased its position in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Price Performance

JOBY opened at $6.33 on Friday. The company’s 50-day moving average is $7.45 and its 200 day moving average is $6.85. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The firm has a market capitalization of $4.98 billion, a P/E ratio of -9.04 and a beta of 2.35.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the business’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 transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the sale, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is owned by insiders.

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.