Joby Aviation, Inc. (NYSE:JOBY) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 129.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 779,095 shares of the company's stock after purchasing an additional 439,436 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of Joby Aviation worth $6,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JOBY. Whittier Trust Co. acquired a new stake in shares of Joby Aviation in the fourth quarter worth approximately $38,000. Salem Investment Counselors Inc. boosted its position in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation in the 4th quarter valued at about $41,000. Golden State Wealth Management LLC purchased a new position in Joby Aviation in the 4th quarter worth approximately $42,000. Finally, Allworth Financial LP boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Joby Aviation Price Performance

Shares of NYSE:JOBY traded up $0.07 during trading on Friday, hitting $5.86. 11,563,126 shares of the company were exchanged, compared to its average volume of 11,406,765. The firm's 50 day moving average price is $6.43 and its 200-day moving average price is $6.98. The stock has a market capitalization of $4.62 billion, a P/E ratio of -8.38 and a beta of 2.35. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JOBY shares. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, HC Wainwright restated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One equities 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 stock. According to MarketBeat, Joby Aviation presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the sale, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares in the company, valued at approximately $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 823,112 shares of company stock worth $5,754,922 over the last 90 days. Corporate 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.