Victory Capital Management Inc. Grows Position in Joby Aviation, Inc. (NYSE:JOBY)

Victory Capital Management Inc. grew its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,370 shares of the company’s stock after buying an additional 5,077 shares during the quarter. Victory Capital Management Inc.’s holdings in Joby Aviation were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JOBY. Baillie Gifford & Co. boosted its stake in shares of Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the period. State Street Corp lifted its stake in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the period. Geode Capital Management LLC lifted its stake in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the period. ARK Investment Management LLC lifted its stake in Joby Aviation by 22.2% in the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock worth $27,551,000 after acquiring an additional 616,193 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock worth $31,661,000 after acquiring an additional 361,520 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Trading Up 5.1 %

Shares of JOBY stock opened at $6.66 on Friday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The stock has a market cap of $5.24 billion, a PE ratio of -9.51 and a beta of 2.35. The company’s fifty day moving average price is $7.41 and its 200-day moving average price is $6.87.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JOBY. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note 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 reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.90.

Insider Activity

In other news, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares of the company’s stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the transaction, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,015,470 shares of company stock worth $8,600,479. Corporate insiders own 32.40% of the company’s stock.

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.