Charles Schwab Investment Management Inc. Has $31.66 Million Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Charles Schwab Investment Management Inc. increased its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,894,326 shares of the company's stock after acquiring an additional 361,520 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.51% of Joby Aviation worth $31,661,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after purchasing an additional 5,000 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after acquiring an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation in the 4th quarter worth about $41,000. Golden State Wealth Management LLC acquired a new stake in Joby Aviation in the 4th quarter worth about $42,000. Finally, Allworth Financial LP grew 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 in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of analyst reports. 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. HC Wainwright reaffirmed 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 reaffirmed an "overweight" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $8.90.

Remove Ads

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now owns 58,994,729 shares of the company's stock, valued at $471,957,832. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joeben Bevirt sold 10,785 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares in the company, valued at approximately $5,892,257.48. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,015,470 shares of company stock worth $8,600,479. Insiders own 32.40% of the company's stock.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded down $0.16 during mid-day trading on Thursday, reaching $6.34. 5,866,909 shares of the company's stock were exchanged, compared to its average volume of 10,603,926. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.06 and a beta of 2.35. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The business's fifty day moving average price is $7.51 and its 200-day moving average price is $6.85.

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.