Intech Investment Management LLC Acquires 77,311 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Intech Investment Management LLC grew its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 75.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 180,227 shares of the company’s stock after purchasing an additional 77,311 shares during the quarter. Intech Investment Management LLC’s holdings in Joby Aviation were worth $1,465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JOBY. Empowered Funds LLC bought a new stake in shares of Joby Aviation in the 3rd quarter valued at about $51,000. Caprock Group LLC raised its holdings in shares of Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after purchasing an additional 79,896 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Joby Aviation in the 3rd quarter valued at about $79,000. Finally, Verition Fund Management LLC grew its position in shares of Joby Aviation by 118.9% in the 3rd quarter. Verition Fund Management LLC now owns 78,339 shares of the company’s stock worth $394,000 after buying an additional 42,544 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Trading Up 5.1 %

Shares of JOBY opened at $6.66 on Friday. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The firm has a 50-day moving average price of $7.41 and a 200 day moving average price of $6.86. The firm has a market capitalization of $5.24 billion, a P/E ratio of -9.51 and a beta of 2.35.

Analyst Ratings Changes

JOBY has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,205 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the transaction, the insider now owns 215,947 shares of the company’s stock, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction dated 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 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. Over the last quarter, insiders sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is owned by company insiders.

Joby Aviation Profile

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.