8Vc Gp I LLC Has $78.02 Million Position in Joby Aviation, Inc. (NYSE:JOBY)

8Vc Gp I LLC reduced its position in Joby Aviation, Inc. (NYSE:JOBY) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,596,667 shares of the company’s stock after selling 4,798,333 shares during the quarter. Joby Aviation makes up about 98.9% of 8Vc Gp I LLC’s portfolio, making the stock its largest position. 8Vc Gp I LLC owned 1.25% of Joby Aviation worth $78,021,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of JOBY. Creative Planning boosted its position in shares of Joby Aviation by 86.2% during the 3rd quarter. Creative Planning now owns 55,446 shares of the company’s stock valued at $279,000 after purchasing an additional 25,672 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Joby Aviation by 45.3% during the 3rd quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after buying an additional 10,765 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after buying an additional 9,188 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Joby Aviation by 15.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock valued at $1,342,000 after acquiring an additional 34,866 shares in the last quarter. Finally, Bouvel Investment Partners LLC acquired a new position in shares of Joby Aviation during the 3rd quarter valued at $614,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the transaction, the insider now owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,018,699 shares of company stock worth $8,628,124. 32.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a 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 note on Thursday, February 27th. Canaccord Genuity Group upped 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. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered 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. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Stock Performance

JOBY stock opened at $6.78 on Thursday. The business has a 50-day simple moving average of $8.06 and a two-hundred day simple moving average of $6.76. The company has a market capitalization of $5.18 billion, a P/E ratio of -9.68 and a beta of 2.33. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

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.