Modern Wealth Management LLC Boosts Stake in Joby Aviation, Inc. (NYSE:JOBY)

Modern Wealth Management LLC grew its stake in Joby Aviation, Inc. (NYSE:JOBY) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,447 shares of the company’s stock after acquiring an additional 4,531 shares during the quarter. Modern Wealth Management LLC’s holdings in Joby Aviation were worth $144,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Whittier Trust Co. bought a new stake in Joby Aviation during the fourth quarter valued at about $38,000. Allworth Financial LP boosted its holdings in shares of Joby Aviation by 200.6% in the 4th 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 in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation in the 4th quarter worth approximately $41,000. Salem Investment Counselors Inc. raised its stake in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Joby Aviation during the fourth quarter valued at approximately $42,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $6.12 on Friday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The firm has a market capitalization of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. The stock’s 50-day simple moving average is $7.25 and its 200-day simple moving average is $6.91.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total transaction of $192,998.88. Following the sale, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the transaction, the director now directly owns 58,994,729 shares of the company’s stock, valued at approximately $471,957,832. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. decreased 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 report on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research 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, Joby Aviation has an average rating of “Moderate Buy” and a consensus target price of $8.90.

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.