Ieq Capital LLC Trims Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Ieq Capital LLC trimmed its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,279,474 shares of the company's stock after selling 162,100 shares during the quarter. Ieq Capital LLC owned about 0.56% of Joby Aviation worth $34,792,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in 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 buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation during the fourth quarter worth $41,000. Golden State Wealth Management LLC acquired a new stake in shares of Joby Aviation during the 4th quarter valued at $42,000. Finally, Allworth Financial LP grew its position in 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 acquiring an additional 3,320 shares during the last quarter. Institutional investors own 52.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and increased their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group raised their price objective on shares of 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 boosted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.30.

Joby Aviation Stock Down 6.4 %

JOBY traded down $0.48 during midday trading on Friday, hitting $7.00. The company had a trading volume of 10,052,525 shares, compared to its average volume of 13,263,986. The stock's 50 day moving average price is $8.27 and its 200 day moving average price is $6.65. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -10.01 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now directly owns 54,776 shares of the company's stock, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,023,005 shares of company stock valued at $8,667,288. Company insiders own 32.40% of the company's stock.

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.