Intech Investment Management LLC Grows Position in Joby Aviation, Inc. (NYSE:JOBY)

Intech Investment Management LLC boosted its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 75.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,227 shares of the company's stock after acquiring an additional 77,311 shares during the quarter. Intech Investment Management LLC's holdings in Joby Aviation were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JOBY. Bouvel Investment Partners LLC increased its position in shares of Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock worth $1,007,000 after purchasing an additional 1,715 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Joby Aviation by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock valued at $299,000 after acquiring an additional 2,261 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock valued at $80,000 after acquiring an additional 2,574 shares during the period. Empowered Funds LLC lifted its holdings in shares of Joby Aviation by 32.7% in the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock worth $109,000 after acquiring an additional 3,308 shares during the last quarter. Finally, Allworth Financial LP boosted 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 during the period. Hedge funds and other institutional investors own 52.85% of the company's stock.

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Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at $318,085,803.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares of the company's stock, valued at approximately $1,502,910.68. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Joby Aviation Trading Down 1.3 %

JOBY traded down $0.09 on Tuesday, hitting $6.68. 6,378,064 shares of the company were exchanged, compared to its average volume of 10,716,736. The firm has a 50-day moving average price of $7.36 and a two-hundred day moving average price of $6.91. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The company has a market cap of $5.26 billion, a price-to-earnings ratio of -9.54 and a beta of 2.35.

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.