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

Modera Wealth Management LLC lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,000 shares of the company’s stock after purchasing an additional 11,500 shares during the period. 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.

Several other hedge funds have also added to or reduced their stakes in JOBY. Allworth Financial LP boosted its holdings in Joby Aviation by 200.6% in the 4th 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 during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $41,000. Salem Investment Counselors Inc. boosted its stake in shares of Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after buying an additional 5,000 shares during the period. Golden State Wealth Management LLC acquired a new stake in Joby Aviation during the fourth quarter worth approximately $42,000. Finally, Larson Financial Group LLC increased its stake in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JOBY. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 6,903 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the sale, the insider now directly owns 202,276 shares in the company, valued at approximately $1,502,910.68. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the transaction, the insider now owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,018,699 shares of company stock worth $8,628,124 in the last three months. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Trading Up 2.7 %

JOBY stock opened at $6.78 on Thursday. The firm has a 50-day moving average price of $8.06 and a 200-day moving average price of $6.76. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $10.72. The stock has a market capitalization of $5.18 billion, a P/E ratio of -9.68 and a beta of 2.33.

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.