Whittier Trust Co. Takes Position in Joby Aviation, Inc. (NYSE:JOBY)

Whittier Trust Co. bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,717 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Joby Aviation by 218.3% during 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 in the last quarter. Salem Investment Counselors Inc. raised its holdings 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 acquiring an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Joby Aviation during the fourth quarter valued at approximately $41,000. Golden State Wealth Management LLC acquired a new position in Joby Aviation during the fourth quarter valued at approximately $42,000. Finally, Allworth Financial LP increased its position in shares of Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

NYSE JOBY opened at $6.78 on Tuesday. The stock has a market cap of $5.34 billion, a PE ratio of -9.68 and a beta of 2.35. The firm has a 50-day moving average of $7.38 and a 200-day moving average of $6.90. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 6,205 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.10, for a total transaction of $50,260.50. Following the transaction, the insider now owns 215,947 shares in the company, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the completion of the sale, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,015,470 shares of company stock worth $8,600,479 over the last three months. Insiders own 32.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on JOBY shares. Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a research 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. Finally, JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. One equities research 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, Joby Aviation 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.