EDBI Pte Ltd Acquires 17,994 Shares of Joby Aviation, Inc. (NYSE:JOBY)

EDBI Pte Ltd grew its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,022,543 shares of the company’s stock after purchasing an additional 17,994 shares during the quarter. Joby Aviation makes up approximately 26.0% of EDBI Pte Ltd’s holdings, making the stock its biggest holding. EDBI Pte Ltd’s holdings in Joby Aviation were worth $24,573,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC lifted its stake 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 buying an additional 5,000 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the 4th quarter worth approximately $41,000. Golden State Wealth Management LLC acquired a new position in Joby Aviation during the fourth quarter valued at approximately $42,000. Finally, Allworth Financial LP increased 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 purchasing an additional 3,320 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,205 shares of Joby Aviation stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.10, for a total value of $50,260.50. Following the sale, the insider now directly owns 215,947 shares in the company, valued at approximately $1,749,170.70. The trade was a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the transaction, the insider now owns 54,776 shares of the company’s stock, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,023,005 shares of company stock valued at $8,667,288 over the last three months. Company insiders own 32.40% of the company’s stock.

Joby Aviation Trading Down 6.6 %

Shares of NYSE JOBY opened at $6.98 on Friday. The company has a fifty day moving average price of $8.25 and a 200 day moving average price of $6.66. The firm has a market cap of $5.34 billion, a PE ratio of -9.96 and a beta of 2.33. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $5.00 to $6.00 in a report on Friday, January 10th. Needham & Company LLC increased their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Company 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.