ARK Investment Management LLC Has $27.55 Million Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

ARK Investment Management LLC boosted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,388,791 shares of the company’s stock after acquiring an additional 616,193 shares during the period. ARK Investment Management LLC’s holdings in Joby Aviation were worth $27,551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JOBY. Larson Financial Group LLC increased its stake in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Salem Investment Counselors Inc. increased its stake in Joby Aviation by 5,000.0% during the fourth 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 fourth quarter valued at about $41,000. Golden State Wealth Management LLC bought a new position in Joby Aviation during the fourth quarter valued at about $42,000. Finally, Allworth Financial LP increased 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 acquiring an additional 3,320 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business’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 completion of the transaction, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,018,699 shares of company stock worth $8,628,124. Company insiders own 32.40% of the company’s stock.

Joby Aviation Trading Down 3.9 %

JOBY stock opened at $6.50 on Wednesday. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72. The firm has a market cap of $4.97 billion, a P/E ratio of -9.28 and a beta of 2.33. The business’s 50 day moving average is $8.19 and its 200-day moving average is $6.71.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JOBY. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC upped their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and an average target price of $9.30.

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.