Ieq Capital LLC Sells 162,100 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Ieq Capital LLC lowered its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,279,474 shares of the company’s stock after selling 162,100 shares during the quarter. Ieq Capital LLC’s holdings in Joby Aviation were worth $34,792,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Intech Investment Management LLC purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at $518,000. Rheos Capital Works Inc. grew its position in Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after buying an additional 350,000 shares during the period. Fred Alger Management LLC increased its holdings in Joby Aviation by 89.4% during the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after buying an additional 58,229 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new stake in Joby Aviation during the fourth quarter worth about $418,000. Finally, Entropy Technologies LP purchased a new stake in Joby Aviation during the fourth quarter worth about $300,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Down 4.6 %

NYSE JOBY opened at $7.58 on Thursday. The company has a market cap of $5.80 billion, a PE ratio of -10.83 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. The firm’s 50-day simple moving average is $8.27 and its two-hundred day simple moving average is $6.64.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JOBY. Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Needham & Company LLC lifted their price objective on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Insider Activity

In other news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction dated 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. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now owns 137,097 shares in the company, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,023,005 shares of company stock worth $8,667,288 over the last ninety days. Company insiders own 32.40% of the company’s stock.

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.