Xponance Inc. Increases Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Xponance Inc. boosted its position in Joby Aviation, Inc. (NYSE:JOBY) by 16.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 30,642 shares of the company’s stock after purchasing an additional 4,278 shares during the period. Xponance Inc.’s holdings in Joby Aviation were worth $249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Joby Aviation by 4.3% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the period. State Street Corp grew its stake in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the last quarter. 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 worth $31,661,000 after buying an additional 361,520 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Joby Aviation by 22.2% in the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock valued at $27,551,000 after acquiring an additional 616,193 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Joeben Bevirt sold 23,886 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 768,293 shares in the company, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,191,832 shares of company stock valued at $9,796,214. Corporate insiders own 32.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One investment 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.

Joby Aviation Stock Down 4.8 %

NYSE:JOBY opened at $6.12 on Friday. The firm’s fifty day simple moving average is $7.25 and its 200 day simple moving average is $6.91. The stock has a market cap of $4.82 billion, a P/E ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month 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.