Wealthspire Advisors LLC Purchases New Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Wealthspire Advisors LLC purchased a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,954 shares of the company’s stock, valued at approximately $97,000.

Other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after purchasing an additional 2,281,161 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $47,245,000 after purchasing an additional 670,852 shares during the last quarter. State Street Corp lifted its stake in Joby Aviation by 9.5% during 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 during the last quarter. Rheos Capital Works Inc. lifted its stake in Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Joby Aviation by 8.6% during the fourth quarter. Rhumbline Advisers now owns 594,419 shares of the company’s stock worth $4,833,000 after purchasing an additional 47,070 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $7.00 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of -9.99 and a beta of 2.33. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The company has a fifty day moving average of $8.14 and a 200-day moving average of $6.72.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction on 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 completion of the sale, the director now owns 58,661,395 shares of the company’s stock, valued at $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. Insiders sold 1,018,699 shares of company stock worth $8,628,124 over the last three months. Company insiders own 32.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JOBY shares. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday. Finally, Canaccord Genuity Group upped 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

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.