Legal & General Group Plc Sells 685,579 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Legal & General Group Plc decreased its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 37.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,143,048 shares of the company’s stock after selling 685,579 shares during the quarter. Legal & General Group Plc owned approximately 0.15% of Joby Aviation worth $9,293,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in JOBY. Whittier Trust Co. purchased a new stake in shares of Joby Aviation during the 4th quarter valued at approximately $38,000. Salem Investment Counselors Inc. lifted its holdings in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation during the 4th quarter valued at about $41,000. Golden State Wealth Management LLC bought a new position in shares of Joby Aviation in the fourth quarter valued at approximately $42,000. Finally, Allworth Financial LP boosted 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 valued at $44,000 after purchasing an additional 3,320 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Up 1.3 %

Shares of NYSE:JOBY opened at $5.86 on Friday. The company’s fifty day moving average is $6.46 and its 200 day moving average is $6.97. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The stock has a market cap of $4.62 billion, a PE ratio of -8.38 and a beta of 2.35.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a research note 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 research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Canaccord Genuity Group increased 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.58.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at $470,464,387.90. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Allison sold 24,395 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $6.04, for a total transaction of $147,345.80. Following the sale, the insider now directly owns 627,726 shares of the company’s stock, valued at $3,791,465.04. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 823,112 shares of company stock valued at $5,754,922. Insiders own 32.40% of the company’s stock.

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.