Covestor Ltd Has $50,000 Position in Joby Aviation, Inc. (NYSE:JOBY)

Covestor Ltd lifted its position in Joby Aviation, Inc. (NYSE:JOBY) by 195.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,022 shares of the company’s stock after purchasing an additional 3,986 shares during the period. Covestor Ltd’s holdings in Joby Aviation were worth $50,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. bought a new position in shares of Joby Aviation during the fourth quarter worth $38,000. Salem Investment Counselors Inc. raised its stake in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the fourth quarter worth about $41,000. Golden State Wealth Management LLC acquired a new position in Joby Aviation in the fourth quarter valued at about $42,000. Finally, Allworth Financial LP grew its stake in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares during the period. Institutional investors own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was 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 of the company’s stock, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the transaction, the chief executive officer now owns 32,275,793 shares in the company, valued at approximately $190,104,420.77. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 832,073 shares of company stock worth $5,885,469 in the last three months. Insiders own 32.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JOBY. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.58.

Joby Aviation Trading Up 1.5 %

Shares of JOBY opened at $6.02 on Tuesday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The firm has a fifty day simple moving average of $6.58 and a 200 day simple moving average of $6.98. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -8.60 and a beta of 2.35.

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.