Modera Wealth Management LLC Buys 11,500 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Modera Wealth Management LLC lifted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the company’s stock after acquiring an additional 11,500 shares during the quarter. Modera Wealth Management LLC’s holdings in Joby Aviation were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in JOBY. Baillie Gifford & Co. lifted its holdings in Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after buying an additional 2,281,161 shares during the period. State Street Corp lifted its stake in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the period. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares in the last quarter. ARK Investment Management LLC grew its stake in Joby Aviation by 22.2% during the fourth quarter. ARK Investment Management LLC now owns 3,388,791 shares of the company’s stock worth $27,551,000 after purchasing an additional 616,193 shares during the period. Finally, Rheos Capital Works Inc. increased its holdings 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 purchasing an additional 350,000 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Price Performance

JOBY opened at $6.78 on Thursday. The firm has a market capitalization of $5.18 billion, a PE ratio of -9.68 and a beta of 2.33. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The company’s 50-day moving average is $8.06 and its 200 day moving average is $6.76.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group upped their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 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 given a buy rating to the company. According to MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and an average price target of $8.90.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,005 shares of the 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 sale, the insider now owns 54,776 shares in the company, valued at $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 23,886 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at $6,207,807.44. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,018,699 shares of company stock valued at $8,628,124 over the last ninety days. 32.40% of the stock is currently owned by insiders.

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.