Intellectus Partners LLC Decreases Position in Joby Aviation, Inc. (NYSE:JOBY)

Intellectus Partners LLC lowered its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 33.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,750 shares of the company’s stock after selling 18,150 shares during the period. Intellectus Partners LLC’s holdings in Joby Aviation were worth $299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Joby Aviation by 218.3% in the third 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 during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after purchasing an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the fourth quarter valued at about $41,000. Golden State Wealth Management LLC purchased a new position in Joby Aviation in the fourth quarter valued at about $42,000. Finally, Allworth Financial LP raised its stake in Joby Aviation by 200.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of 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. In the last ninety days, insiders have sold 1,021,475 shares of company stock worth $8,646,418. 32.40% of the stock is currently owned by company insiders.

Joby Aviation Trading Down 0.5 %

Shares of Joby Aviation stock opened at $6.61 on Friday. The business’s 50 day simple moving average is $7.96 and its 200-day simple moving average is $6.79. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of -9.44 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.

Wall Street Analyst Weigh In

JOBY has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group upped their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective 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 currently has a consensus rating of “Moderate Buy” and an average target price 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.