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

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

A number of other institutional investors also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after acquiring an additional 2,281,161 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. State Street Corp raised its holdings in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock worth $31,661,000 after acquiring an additional 361,520 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in Joby Aviation by 22.2% in the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock valued at $27,551,000 after purchasing an additional 616,193 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 10,785 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the sale, the chief executive officer now owns 793,036 shares of the company’s stock, valued at $5,892,257.48. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 58,994,729 shares of the company’s stock, valued at $471,957,832. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,021,475 shares of company stock valued at $8,646,418. Company insiders own 32.40% of the company’s stock.

Joby Aviation Trading Down 0.5 %

JOBY stock opened at $6.61 on Friday. The stock has a 50-day moving average price of $7.96 and a two-hundred day moving average price of $6.79. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The company has a market cap of $5.05 billion, a PE ratio of -9.44 and a beta of 2.35.

Analyst Ratings Changes

Several equities analysts recently commented on JOBY shares. 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. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.