Caprock Group LLC Takes $2.01 Million Position in Joby Aviation, Inc. $JOBY

Caprock Group LLC purchased a new stake in Joby Aviation, Inc. (NYSE:JOBY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,661 shares of the company’s stock, valued at approximately $2,012,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Planning Inc lifted its holdings in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation in the third quarter valued at about $29,000. Hilltop National Bank purchased a new stake in Joby Aviation during the third quarter worth about $32,000. Finally, GPS Wealth Strategies Group LLC grew its position in Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 6,429 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $15.84, for a total transaction of $101,835.36. Following the sale, the insider owned 113,718 shares of the company’s stock, valued at $1,801,293.12. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joeben Bevirt sold 507,182 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $10.62, for a total transaction of $5,386,272.84. Following the completion of the transaction, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at $339,816,657.24. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 830,036 shares of company stock valued at $9,779,090. Insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JOBY shares. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus target price of $13.21.

Joby Aviation Stock Performance

JOBY stock opened at $9.90 on Friday. The stock’s 50 day moving average price is $13.52 and its 200 day moving average price is $14.90. The firm has a market cap of $9.02 billion, a P/E ratio of -7.39 and a beta of 2.57. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95.

Joby Aviation 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.