Joby Aviation, Inc. (NYSE:JOBY) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 85.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,584 shares of the company’s stock after purchasing an additional 98,678 shares during the quarter. DnB Asset Management AS’s holdings in Joby Aviation were worth $1,745,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JOBY. Whittier Trust Co. purchased a new stake in Joby Aviation during the fourth quarter worth $38,000. Salem Investment Counselors Inc. raised its position in shares of Joby Aviation by 5,000.0% in the fourth 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 during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation during the 4th quarter worth about $41,000. Golden State Wealth Management LLC acquired a new stake in shares of Joby Aviation during the 4th quarter valued at about $42,000. Finally, Allworth Financial LP increased its stake 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 purchasing an additional 3,320 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Down 1.4 %

Shares of JOBY opened at $5.94 on Wednesday. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The stock has a market cap of $4.68 billion, a PE ratio of -8.48 and a beta of 2.35. The firm’s fifty day moving average is $7.15 and its two-hundred day moving average is $6.95.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced 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. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Insider Buying and Selling

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares in the company, valued at $396,594,255.84. This represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the transaction, the insider now owns 50,902 shares in the company, valued at approximately $509,020. This represents a 13.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is owned by insiders.

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.