Proficio Capital Partners LLC Acquires New Stake in Joby Aviation, Inc. (NYSE:JOBY)

Proficio Capital Partners LLC bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,845 shares of the company’s stock, valued at approximately $145,000.

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

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the transaction, the chief executive officer now owns 32,325,793 shares of the company’s stock, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the transaction, the insider now owns 146,941 shares of the company’s stock, valued at $996,259.98. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,191,832 shares of company stock valued at $9,796,214. Insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. 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. Finally, Canaccord Genuity Group lifted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Stock Down 4.8 %

NYSE JOBY opened at $6.12 on Friday. The firm has a market cap of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. The company has a 50 day moving average price of $7.25 and a 200 day moving average price of $6.91. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

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.