Joby Aviation, Inc. (NYSE:JOBY) Shares Acquired by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 297.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,758 shares of the company’s stock after buying an additional 65,696 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Joby Aviation were worth $713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $518,000. Rheos Capital Works Inc. grew its position in Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after acquiring an additional 350,000 shares during the period. Fred Alger Management LLC grew its position in Joby Aviation by 89.4% in the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after acquiring an additional 58,229 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in Joby Aviation in the fourth quarter valued at $418,000. Finally, Entropy Technologies LP acquired a new position in shares of Joby Aviation in the 4th quarter valued at $300,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research 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 report on Wednesday, January 8th. JPMorgan Chase & Co. decreased 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 reiterated an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares of the company’s stock, valued at $471,957,832. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the sale, the insider now directly owns 146,941 shares of the company’s stock, valued at $996,259.98. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,191,832 shares of company stock valued at $9,796,214 in the last quarter. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Stock Down 4.8 %

Shares of JOBY stock opened at $6.12 on Friday. The firm has a 50 day moving average of $7.25 and a two-hundred day moving average of $6.91. The stock has a market capitalization of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

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.