Sumitomo Mitsui Trust Group Inc. Has $21.19 Million Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,605,959 shares of the company’s stock after purchasing an additional 3,535 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.34% of Joby Aviation worth $21,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of JOBY. Salem Investment Counselors Inc. boosted its stake in Joby Aviation by 5,000.0% during the fourth 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 in the last quarter. Larson Financial Group LLC raised its holdings in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Joby Aviation in the third quarter valued at about $51,000. International Assets Investment Management LLC increased its position in Joby Aviation by 403.0% in the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after purchasing an additional 9,188 shares during the period. Finally, Monterey Private Wealth Inc. acquired a new stake in Joby Aviation in the fourth quarter worth about $102,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 7,692 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the sale, the insider now directly owns 50,902 shares in the company, valued at $509,020. This represents a 13.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the sale, the chief executive officer now owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,007,596 shares of company stock valued at $8,551,819 in the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $7.33 on Thursday. The stock’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $6.57. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of -10.47 and a beta of 2.33.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Canaccord Genuity Group boosted 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. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.30.

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.