Mitsubishi UFJ Trust & Banking Corp Sells 33,081 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Mitsubishi UFJ Trust & Banking Corp decreased its position in Joby Aviation, Inc. (NYSE:JOBY) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,033,690 shares of the company’s stock after selling 33,081 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Joby Aviation were worth $8,404,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings 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 purchasing an additional 5,000 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the 4th quarter worth $38,000. Salem Investment Counselors Inc. increased its holdings in shares of 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 buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation during the 4th quarter valued at about $41,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Joby Aviation in the 4th quarter valued at about $42,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Down 4.8 %

JOBY opened at $6.12 on Friday. The business has a fifty day moving average of $7.25 and a 200 day moving average of $6.93. The stock has a market cap of $4.82 billion, a P/E ratio of -8.75 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.

Wall Street Analyst Weigh In

JOBY has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares of the company’s stock, valued at approximately $996,259.98. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kate Dehoff sold 6,205 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was 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. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is currently owned by insiders.

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.