Independent Advisor Alliance Purchases 3,481 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Independent Advisor Alliance raised its position in Joby Aviation, Inc. (NYSE:JOBY) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,350 shares of the company’s stock after acquiring an additional 3,481 shares during the quarter. Independent Advisor Alliance’s holdings in Joby Aviation were worth $182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of JOBY. Baillie Gifford & Co. grew its stake in Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after buying an additional 2,281,161 shares during the last quarter. State Street Corp grew its position in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 period. ARK Investment Management LLC lifted its holdings in Joby Aviation by 22.2% during the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock worth $27,551,000 after purchasing an additional 616,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after purchasing an additional 361,520 shares during the period. Institutional investors own 52.85% of the company’s stock.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 6,903 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the sale, the insider now directly owns 202,276 shares in the company, valued at $1,502,910.68. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the completion of the sale, the chief executive officer now owns 32,325,793 shares in the company, valued at $318,085,803.12. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,015,470 shares of company stock worth $8,600,479 in the last quarter. 32.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Stock Performance

Shares of JOBY opened at $6.33 on Friday. The stock has a fifty day moving average of $7.45 and a 200-day moving average of $6.85. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -9.04 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Joby Aviation 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.