Intech Investment Management LLC Increases Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

Intech Investment Management LLC lifted its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 75.1% during the 4th quarter, Holdings Channel reports. The firm owned 180,227 shares of the company’s stock after buying an additional 77,311 shares during the period. Intech Investment Management LLC’s holdings in Joby Aviation were worth $1,465,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bouvel Investment Partners LLC lifted its position in shares of Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,715 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Joby Aviation by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Joby Aviation by 35.3% during the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Joby Aviation by 32.7% during the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after purchasing an additional 3,308 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Up 5.1 %

JOBY stock opened at $6.66 on Friday. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The company’s 50 day moving average is $7.41 and its two-hundred day moving average is $6.86. The stock has a market cap of $5.24 billion, a P/E ratio of -9.51 and a beta of 2.35.

Analysts Set New Price Targets

JOBY has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Insiders Place Their Bets

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the sale, the insider now owns 50,902 shares of the company’s stock, valued at approximately $509,020. This trade represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is owned by corporate insiders.

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.