LPL Financial LLC Increases Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

LPL Financial LLC raised its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 36.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,647 shares of the company’s stock after purchasing an additional 43,644 shares during the period. LPL Financial LLC’s holdings in Joby Aviation were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in JOBY. State Street Corp grew its stake in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares during the period. Tidal Investments LLC increased its holdings in shares of Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the period. Everence Capital Management Inc. acquired a new stake in Joby Aviation during the 4th quarter valued at approximately $142,000. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Joby Aviation in the fourth quarter worth about $154,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Trading Up 1.3 %

Shares of NYSE:JOBY opened at $5.86 on Friday. 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 price is $6.43 and its two-hundred day moving average price is $6.98. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -8.38 and a beta of 2.35.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. JPMorgan Chase & Co. cut 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group increased their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 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, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and an average price target of $8.58.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the sale, the chief executive officer now owns 32,275,793 shares in the company, valued at $190,104,420.77. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 823,112 shares of company stock worth $5,754,922 in the last quarter. 32.40% of the stock is owned by insiders.

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.