State of New Jersey Common Pension Fund D Acquires Shares of 147,202 Joby Aviation, Inc. $JOBY

State of New Jersey Common Pension Fund D acquired a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 147,202 shares of the company’s stock, valued at approximately $2,376,000.

A number of other institutional investors also recently modified their holdings of JOBY. Royal Bank of Canada grew its stake in shares of Joby Aviation by 110.5% in the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Joby Aviation in the 1st quarter worth approximately $273,000. Strs Ohio purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $37,000. CWM LLC raised its holdings in shares of Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after acquiring an additional 689 shares in the last quarter. Finally, Moloney Securities Asset Management LLC purchased a new stake in Joby Aviation in the second quarter worth $115,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,366 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $9.74, for a total transaction of $62,004.84. Following the completion of the transaction, the insider owned 128,548 shares of the company’s stock, valued at $1,252,057.52. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory Bowles sold 4,464 shares of Joby Aviation stock in a transaction on Friday, February 13th. The shares were sold at an average price of $9.88, for a total value of $44,104.32. Following the transaction, the insider owned 174,285 shares of the company’s stock, valued at $1,721,935.80. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,458,924 shares of company stock worth $15,992,945 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Price Performance

NYSE:JOBY opened at $9.86 on Monday. The firm has a market capitalization of $8.99 billion, a P/E ratio of -7.35 and a beta of 2.57. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95. The company’s 50-day simple moving average is $13.00 and its 200 day simple moving average is $14.57.

Analysts Set New Price Targets

JOBY has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. Canaccord Genuity Group reiterated a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a research report on Tuesday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective for the company. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. increased their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Reduce” and an average price target of $13.21.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.