Rhumbline Advisers Boosts Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Rhumbline Advisers lifted its holdings in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 594,419 shares of the company's stock after buying an additional 47,070 shares during the period. Rhumbline Advisers owned approximately 0.08% of Joby Aviation worth $4,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the fourth quarter valued at $41,000. Salem Investment Counselors Inc. increased its holdings 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 worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Joby Aviation in the 4th quarter valued at about $42,000. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Joby Aviation in the third quarter worth about $51,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

NYSE JOBY traded down $0.58 during trading on Monday, reaching $6.43. The company's stock had a trading volume of 10,723,951 shares, compared to its average volume of 10,380,701. The stock has a market capitalization of $4.92 billion, a PE ratio of -9.13 and a beta of 2.33. The firm has a fifty day moving average of $8.14 and a 200 day moving average of $6.75. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72.

Wall Street Analyst Weigh In

JOBY has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday. HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, Joby Aviation has an average rating of "Moderate Buy" and a consensus price target of $8.90.

Insider Buying and Selling

In related news, insider Kate Dehoff sold 6,205 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.10, for a total value of $50,260.50. Following the completion of the transaction, the insider now directly owns 215,947 shares in the company, valued at approximately $1,749,170.70. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,018,699 shares of company stock worth $8,628,124. 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.