8Vc Gp I LLC Has $78.02 Million Position in Joby Aviation, Inc. (NYSE:JOBY)

8Vc Gp I LLC reduced its position in Joby Aviation, Inc. (NYSE:JOBY) by 33.3% during the fourth quarter, HoldingsChannel reports. The fund owned 9,596,667 shares of the company’s stock after selling 4,798,333 shares during the quarter. Joby Aviation comprises 98.9% of 8Vc Gp I LLC’s holdings, making the stock its biggest position. 8Vc Gp I LLC’s holdings in Joby Aviation were worth $78,021,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bouvel Investment Partners LLC grew its position in shares of Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,715 shares in the last quarter. Private Advisor Group LLC boosted its stake in Joby Aviation by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the period. Empowered Funds LLC increased its position in shares of Joby Aviation by 32.7% during the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock valued at $109,000 after buying an additional 3,308 shares during the period. Allworth Financial LP lifted its holdings in shares of Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after buying an additional 3,320 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after acquiring an additional 3,522 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Up 2.7 %

Shares of Joby Aviation stock opened at $6.78 on Thursday. The company’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $6.76. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The firm has a market cap of $5.18 billion, a PE ratio of -9.68 and a beta of 2.33.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,018,699 shares of company stock valued at $8,628,124. Corporate insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on JOBY shares. Canaccord Genuity Group upped their target price 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. 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. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.