Vanguard Group Inc. Buys 6,388,232 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Vanguard Group Inc. increased its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,760,562 shares of the company's stock after buying an additional 6,388,232 shares during the quarter. Vanguard Group Inc. owned approximately 6.11% of Joby Aviation worth $380,163,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rheos Capital Works Inc. raised its stake in Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock valued at $19,553,000 after buying an additional 350,000 shares during the period. Hamilton Lane Advisors LLC acquired a new position in shares of Joby Aviation in the fourth quarter valued at $418,000. Entropy Technologies LP bought a new position in shares of Joby Aviation in the fourth quarter valued at about $300,000. Holocene Advisors LP lifted its stake in shares of Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock worth $2,622,000 after buying an additional 249,375 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Joby Aviation in the 4th quarter valued at about $2,168,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at $318,085,803.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction dated 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 approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,425,831 shares of company stock valued at $11,119,208 over the last quarter. 32.40% of the stock is owned by company insiders.

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Joby Aviation Stock Down 5.4 %

Shares of NYSE:JOBY traded down $0.31 during trading on Friday, reaching $5.36. 16,382,199 shares of the company traded hands, compared to its average volume of 10,978,230. The firm has a market capitalization of $4.22 billion, a PE ratio of -7.65 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The company's 50 day moving average is $6.96 and its two-hundred day moving average is $6.93.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price target 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.90.

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.