Headlands Technologies LLC Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

Headlands Technologies LLC purchased a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 136,485 shares of the company's stock, valued at approximately $1,110,000.

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

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 7,692 shares of the 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 sale, the insider now owns 50,902 shares of the company's stock, valued at $509,020. This trade represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,191,832 shares of company stock valued at $9,796,214 in the last ninety days. Corporate insiders own 32.40% of the company's stock.

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Joby Aviation Stock Up 1.9 %

Shares of NYSE JOBY traded up $0.11 during midday trading on Wednesday, hitting $6.04. The company had a trading volume of 13,055,548 shares, compared to its average volume of 10,892,581. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -8.63 and a beta of 2.35. The business has a 50-day simple moving average of $7.09 and a two-hundred day simple moving average of $6.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JOBY shares. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. decreased their target price 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.90.

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.