Bank of New York Mellon Corp Boosts Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Bank of New York Mellon Corp grew its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,279,027 shares of the company's stock after acquiring an additional 84,080 shares during the quarter. Bank of New York Mellon Corp owned about 0.17% of Joby Aviation worth $10,398,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Bouvel Investment Partners LLC raised its stake in Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,715 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock valued at $299,000 after buying an additional 2,261 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Joby Aviation by 32.7% in the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock worth $109,000 after buying an additional 3,308 shares in the last quarter. Allworth Financial LP boosted 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 last quarter. Finally, Tidal Investments LLC grew its stake in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock valued at $147,000 after acquiring an additional 3,522 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on JOBY shares. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and an average target price of $8.90.

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Joby Aviation Stock Down 5.3 %

JOBY stock opened at $5.98 on Friday. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The business has a fifty day moving average of $7.79 and a two-hundred day moving average of $6.80. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -8.54 and a beta of 2.35.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the sale, the insider now owns 202,276 shares of the company's stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now owns 768,293 shares of the company's stock, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 owned by company 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.

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