SBI Securities Co. Ltd. Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

SBI Securities Co. Ltd. acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 161,953 shares of the company’s stock, valued at approximately $1,317,000.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in Joby Aviation in the 3rd quarter valued at about $518,000. Rheos Capital Works Inc. lifted its position in shares of Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after acquiring an additional 350,000 shares in the last quarter. Fred Alger Management LLC boosted its stake in shares of 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 last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $418,000. Finally, Entropy Technologies LP acquired a new position in Joby Aviation in the 4th quarter valued at $300,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Price Performance

Joby Aviation stock opened at $6.43 on Tuesday. The firm has a 50 day simple moving average of $8.12 and a 200-day simple moving average of $6.75. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -9.19 and a beta of 2.33. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JOBY shares. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed 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 reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction dated 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 directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,018,699 shares of company stock worth $8,628,124. Insiders own 32.40% of the company’s stock.

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.