Wealthfront Advisers LLC Buys 20,298 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Wealthfront Advisers LLC increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 148.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,010 shares of the company’s stock after acquiring an additional 20,298 shares during the quarter. Wealthfront Advisers LLC’s holdings in Joby Aviation were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation in the 4th quarter worth approximately $41,000. Golden State Wealth Management LLC purchased a new stake in Joby Aviation in the 4th quarter worth approximately $42,000. Finally, Allworth Financial LP lifted its holdings in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after buying an additional 3,320 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction 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 owns 202,276 shares of the company’s stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,015,470 shares of company stock worth $8,600,479. 32.40% of the stock is owned by insiders.

Joby Aviation Trading Up 3.3 %

Shares of NYSE:JOBY opened at $6.45 on Tuesday. The stock has a fifty day simple moving average of $7.66 and a two-hundred day simple moving average of $6.84. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -9.21 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered 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, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.