Legal & General Group Plc Sells 685,579 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Legal & General Group Plc decreased its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 37.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,143,048 shares of the company's stock after selling 685,579 shares during the period. Legal & General Group Plc owned about 0.15% of Joby Aviation worth $9,293,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after buying an additional 2,281,161 shares in the last quarter. Vanguard Group Inc. boosted its stake in Joby Aviation by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock worth $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock worth $83,015,000 after purchasing an additional 817,638 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 valued at $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after purchasing an additional 361,520 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JOBY shares. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, Canaccord Genuity Group lifted their price target 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and an average price target of $8.58.

Joby Aviation Trading Up 1.3 %

Shares of NYSE:JOBY traded up $0.07 during midday trading on Friday, reaching $5.86. 11,563,126 shares of the company were exchanged, compared to its average volume of 11,406,765. The stock has a market cap of $4.62 billion, a PE ratio of -8.38 and a beta of 2.35. The business's fifty day moving average is $6.43 and its two-hundred day moving average is $6.98. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72.

Insider Activity

In other news, Director Paul Cahill Sciarra sold 333,334 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 10,785 shares of Joby Aviation stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares of the company's stock, valued at approximately $5,892,257.48. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

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.