Cibc World Markets Corp Takes $329,000 Position in Joby Aviation, Inc. (NYSE:JOBY)

Cibc World Markets Corp acquired a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,445 shares of the company's stock, valued at approximately $329,000.

Several other large investors have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Joby Aviation during the third quarter worth about $518,000. Rheos Capital Works Inc. grew its position in Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock worth $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Fred Alger Management LLC increased its stake in Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company's stock valued at $621,000 after purchasing an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Joby Aviation in the fourth quarter worth $418,000. Finally, Entropy Technologies LP acquired a new stake in shares of Joby Aviation during the fourth quarter worth $300,000. Institutional investors own 52.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price 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. Canaccord Genuity Group increased 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. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research report 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.90.

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Joby Aviation Price Performance

NYSE:JOBY traded down $0.31 during trading hours on Friday, reaching $6.12. The company had a trading volume of 9,297,624 shares, compared to its average volume of 10,814,006. The firm has a market cap of $4.82 billion, a PE 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. The business's 50 day moving average price is $7.29 and its 200-day moving average price is $6.91.

Insider Buying and Selling

In other Joby Aviation news, insider Bonny W. Simi sold 31,489 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now directly owns 137,097 shares of the company's stock, valued at approximately $1,142,018.01. This trade represents a 18.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the transaction, the director now directly owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,191,832 shares of company stock valued at $9,796,214. Corporate insiders own 32.40% of the company's stock.

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.