Mitsubishi UFJ Trust & Banking Corp Sells 33,081 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,033,690 shares of the company’s stock after selling 33,081 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of Joby Aviation worth $8,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Bouvel Investment Partners LLC lifted its stake in Joby Aviation by 1.4% during the 4th 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 during the period. Private Advisor Group LLC boosted its holdings in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Joby Aviation by 35.3% in the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares during the last quarter. Empowered Funds LLC grew its position in 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 purchasing an additional 3,308 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Joby Aviation by 200.6% during 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 during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,191,832 shares of company stock valued at $9,796,214 over the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Trading Down 4.8 %

Shares of NYSE:JOBY opened at $6.12 on Friday. The stock has a 50 day moving average of $7.25 and a 200 day moving average of $6.93. The company has a market cap of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JOBY. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report 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 research report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Joby Aviation has an average rating of “Moderate Buy” and an average price target 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.