Raymond James Financial Inc. Invests $2.17 Million in Joby Aviation, Inc. (NYSE:JOBY)

Raymond James Financial Inc. bought a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 266,705 shares of the company's stock, valued at approximately $2,168,000.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of 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 purchasing an additional 2,281,161 shares during the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. State Street Corp raised its stake in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Joby Aviation by 10.2% during the fourth 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. Finally, ARK Investment Management LLC grew its stake in shares of Joby Aviation by 22.2% during the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company's stock valued at $27,551,000 after purchasing an additional 616,193 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

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Joby Aviation Trading Down 1.4 %

Shares of NYSE:JOBY traded down $0.09 during trading on Tuesday, hitting $5.94. 10,535,910 shares of the company's stock traded hands, compared to its average volume of 10,837,999. The company has a 50-day moving average price of $7.21 and a 200-day moving average price of $6.94. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -8.48 and a beta of 2.35.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 7,692 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the transaction, the insider now directly owns 50,902 shares of the company's stock, valued at approximately $509,020. This trade represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Cahill Sciarra sold 333,332 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the sale, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on JOBY. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.90.

Joby Aviation 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.