DnB Asset Management AS Has $1.75 Million Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

DnB Asset Management AS grew its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 85.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,584 shares of the company's stock after acquiring an additional 98,678 shares during the period. DnB Asset Management AS's holdings in Joby Aviation were worth $1,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JOBY. Baillie Gifford & Co. grew its holdings in shares of Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after buying an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after buying an additional 6,388,232 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. State Street Corp raised its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after acquiring an additional 361,520 shares during the last quarter. Institutional investors own 52.85% of the company's stock.

Remove Ads

Insider Activity

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the transaction, the director now owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. The trade was a 0.28 % 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 that occurred on Monday, January 13th. The shares were sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the transaction, the insider now owns 215,947 shares of the company's stock, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

JOBY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reaffirmed a "buy" 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 price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group increased their target price 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 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.90.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.11 during trading on Wednesday, reaching $6.04. 13,055,548 shares of the stock were exchanged, compared to its average volume of 10,892,581. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -8.63 and a beta of 2.35. The firm's 50-day moving average price is $7.15 and its 200 day moving average price is $6.95. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month 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.