8Vc Gp I LLC Sells 4,798,333 Shares of Joby Aviation, Inc. (NYSE:JOBY)

8VC GP I LLC trimmed its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 33.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,596,667 shares of the company's stock after selling 4,798,333 shares during the quarter. Joby Aviation accounts for 98.9% of 8VC GP I LLC's holdings, making the stock its biggest position. 8VC GP I LLC owned approximately 1.25% of Joby Aviation worth $78,021,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Creative Planning raised its stake in shares of Joby Aviation by 86.2% in the 3rd quarter. Creative Planning now owns 55,446 shares of the company's stock valued at $279,000 after purchasing an additional 25,672 shares during the period. Private Advisor Group LLC raised its position in Joby Aviation by 45.3% in the 3rd quarter. Private Advisor Group LLC now owns 34,513 shares of the company's stock valued at $174,000 after buying an additional 10,765 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company's stock valued at $58,000 after acquiring an additional 9,188 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Joby Aviation by 15.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company's stock worth $1,342,000 after acquiring an additional 34,866 shares during the last quarter. Finally, Bouvel Investment Partners LLC bought a new position in shares of Joby Aviation during the 3rd quarter worth approximately $614,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kate Dehoff sold 6,205 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.10, for a total value of $50,260.50. Following the completion of the sale, the insider now owns 215,947 shares in the company, valued at approximately $1,749,170.70. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,475 shares of company stock valued at $8,646,418 over the last 90 days. 32.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group raised 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. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.90.

Joby Aviation Trading Down 7.5 %

Shares of Joby Aviation stock traded down $0.50 during trading on Monday, hitting $6.13. 15,493,436 shares of the stock were exchanged, compared to its average volume of 10,519,368. The company has a fifty day moving average price of $7.96 and a 200-day moving average price of $6.80. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

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.