Whittier Trust Co. Acquires Shares of 4,717 Joby Aviation, Inc. (NYSE:JOBY)

Whittier Trust Co. bought a new stake in Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,717 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JOBY. Empowered Funds LLC acquired a new stake in Joby Aviation in the third quarter valued at approximately $51,000. Intech Investment Management LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at $518,000. Larson Financial Group LLC grew its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Joby Aviation in the 3rd quarter worth about $79,000. Finally, Verition Fund Management LLC raised its position in Joby Aviation by 118.9% in the third quarter. Verition Fund Management LLC now owns 78,339 shares of the company’s stock valued at $394,000 after purchasing an additional 42,544 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares of the company’s stock, valued at $5,892,257.48. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the sale, the insider now directly owns 202,276 shares of the company’s stock, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,015,470 shares of company stock valued at $8,600,479 over the last 90 days. Company insiders own 32.40% of the company’s stock.

Joby Aviation Stock Up 2.0 %

Shares of NYSE JOBY opened at $6.78 on Tuesday. The company has a market capitalization of $5.34 billion, a PE ratio of -9.68 and a beta of 2.35. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The firm has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $6.90.

Analysts Set New Price Targets

Several research firms have recently weighed in on JOBY. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.