Joby Aviation, Inc. (NYSE:JOBY) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 36.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,647 shares of the company's stock after acquiring an additional 43,644 shares during the quarter. LPL Financial LLC's holdings in Joby Aviation were worth $1,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rheos Capital Works Inc. grew its holdings in shares of Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock worth $19,553,000 after buying an additional 350,000 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new stake in Joby Aviation in the 4th quarter valued at about $418,000. Entropy Technologies LP purchased a new position in Joby Aviation in the 4th quarter worth approximately $300,000. Raymond James Financial Inc. acquired a new position in shares of Joby Aviation during the 4th quarter worth approximately $2,168,000. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 buying an additional 361,520 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Allison sold 24,395 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $6.04, for a total value of $147,345.80. Following the completion of the sale, the insider now directly owns 627,726 shares of the company's stock, valued at $3,791,465.04. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 823,112 shares of company stock valued at $5,754,922 over the last three months. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Stock Performance

NYSE JOBY traded up $0.07 during trading on Friday, reaching $5.86. 11,563,126 shares of the company's stock were exchanged, compared to its average volume of 11,406,765. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The stock has a market cap of $4.62 billion, a P/E ratio of -8.38 and a beta of 2.35. The company has a 50 day moving average price of $6.43 and a two-hundred day moving average price of $6.98.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JOBY. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group increased their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped 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 note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

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.