Geode Capital Management LLC Increases Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Geode Capital Management LLC raised its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,208,358 shares of the company's stock after purchasing an additional 817,638 shares during the quarter. Geode Capital Management LLC owned approximately 1.33% of Joby Aviation worth $83,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JOBY. Baillie Gifford & Co. lifted its position in Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock worth $447,412,000 after acquiring an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. boosted its stake in Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the period. State Street Corp lifted its holdings in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after buying an additional 812,248 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $31,661,000 after acquiring an additional 361,520 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Joby Aviation by 22.2% in the 4th quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company's stock worth $27,551,000 after purchasing an additional 616,193 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

JOBY has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research note on Wednesday, January 8th. 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. Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Morgan Stanley restated an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.02 during trading on Monday, reaching $5.95. The stock had a trading volume of 2,056,931 shares, compared to its average volume of 11,222,782. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The firm's fifty day moving average is $6.62 and its 200 day moving average is $6.97. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -8.49 and a beta of 2.35.

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 31,489 shares of the company's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the sale, the insider now owns 137,097 shares in the company, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation 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 directly owns 202,276 shares in the company, valued at $1,502,910.68. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 832,073 shares of company stock valued at $5,885,469 in the last quarter. 32.40% of the stock is currently owned by company insiders.

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.