Charles Schwab Investment Management Inc. Buys 361,520 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Charles Schwab Investment Management Inc. lifted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,894,326 shares of the company’s stock after purchasing an additional 361,520 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Joby Aviation were worth $31,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in Joby Aviation during the third quarter valued at approximately $518,000. Rheos Capital Works Inc. boosted its stake in shares of Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after acquiring an additional 350,000 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after acquiring an additional 58,229 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth $418,000. Finally, Entropy Technologies LP bought a new position in Joby Aviation in the 4th quarter worth $300,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price objective 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now directly owns 58,994,729 shares of the company’s stock, valued at $471,957,832. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the transaction, the insider now directly owns 202,276 shares in the company, valued at approximately $1,502,910.68. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,470 shares of company stock valued at $8,600,479 over the last 90 days. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Trading Up 4.3 %

Shares of JOBY stock opened at $6.25 on Monday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -8.92 and a beta of 2.35. 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 $7.72 and its 200-day moving average price is $6.83.

Joby Aviation Company Profile

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.