Kingsview Wealth Management LLC Grows Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

Kingsview Wealth Management LLC boosted its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 380.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,006 shares of the company's stock after buying an additional 58,607 shares during the period. Kingsview Wealth Management LLC's holdings in Joby Aviation were worth $602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. grew its position in Joby Aviation by 5,000.0% in the 4th 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 during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Joby Aviation during the 4th quarter worth $42,000. Larson Financial Group LLC boosted 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 purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation during the 3rd quarter worth $51,000. Finally, International Assets Investment Management LLC boosted its position in shares of Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company's stock worth $58,000 after purchasing an additional 9,188 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Trading Up 3.6 %

Shares of NYSE:JOBY traded up $0.28 during midday trading on Friday, hitting $7.86. 14,010,559 shares of the stock were exchanged, compared to its average volume of 10,840,079. The stock has a market cap of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The company has a 50 day moving average price of $8.30 and a 200-day moving average price of $6.60.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 23,886 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the transaction, the chief executive officer now owns 768,293 shares of the company's stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were 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 of the company's stock, valued at approximately $1,502,910.68. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,025,284 shares of company stock valued at $8,683,241. 32.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Canaccord Genuity Group boosted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research 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 research report on Tuesday, January 14th. HC Wainwright restated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and an average price target of $9.30.

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.