Joby Aviation, Inc. (NYSE:JOBY) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC increased its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 32.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,447 shares of the company’s stock after purchasing an additional 4,531 shares during the quarter. Modern Wealth Management LLC’s holdings in Joby Aviation were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JOBY. Larson Financial Group LLC increased its position in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Whittier Trust Co. purchased a new stake in Joby Aviation in the 4th quarter worth $38,000. Salem Investment Counselors Inc. raised its position in Joby Aviation by 5,000.0% during the fourth 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 period. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation during the fourth quarter valued at $41,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

NYSE:JOBY opened at $6.12 on Friday. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The stock has a market cap of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. The stock has a 50 day moving average price of $7.25 and a 200 day moving average price of $6.91.

Analyst Ratings Changes

Several research firms recently weighed in on JOBY. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price 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 reaffirmed an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their target price 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the sale, the chief executive officer now owns 768,293 shares of the company’s stock, valued at $6,207,807.44. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the sale, the insider now directly owns 50,902 shares in the company, valued at approximately $509,020. The trade was a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,191,832 shares of company stock worth $9,796,214 in the last three months. 32.40% of the stock is owned by corporate insiders.

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.