24,601 Shares in Joby Aviation, Inc. (NYSE:JOBY) Acquired by AlphaQuest LLC

AlphaQuest LLC acquired a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 24,601 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. lifted 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 buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation during the fourth quarter worth approximately $41,000. Golden State Wealth Management LLC purchased a new stake in Joby Aviation in the fourth quarter valued at $42,000. Finally, Allworth Financial LP raised its position in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after purchasing an additional 3,320 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at $470,464,387.90. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,205 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 215,947 shares of the company’s stock, valued at $1,749,170.70. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on JOBY. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced 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. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 target price 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 assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Trading Up 4.3 %

Shares of NYSE JOBY opened at $6.25 on Monday. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The stock has a fifty day simple moving average of $7.72 and a 200-day simple moving average of $6.83. The stock has a market capitalization of $4.92 billion, a PE ratio of -8.92 and a beta of 2.35.

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.