EDBI Pte Ltd Has $24.57 Million Position in Joby Aviation, Inc. (NYSE:JOBY)

EDBI Pte Ltd increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,022,543 shares of the company’s stock after acquiring an additional 17,994 shares during the quarter. Joby Aviation comprises approximately 26.0% of EDBI Pte Ltd’s holdings, making the stock its largest holding. EDBI Pte Ltd owned 0.40% of Joby Aviation worth $24,573,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Creative Planning raised its holdings in Joby Aviation by 86.2% in the 3rd quarter. Creative Planning now owns 55,446 shares of the company’s stock valued at $279,000 after acquiring an additional 25,672 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Joby Aviation by 45.3% in the third quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock valued at $174,000 after purchasing an additional 10,765 shares in the last quarter. International Assets Investment Management LLC lifted its position in Joby Aviation by 403.0% in the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after purchasing an additional 9,188 shares during the period. Modera Wealth Management LLC lifted its position in Joby Aviation by 46.9% in the third quarter. Modera Wealth Management LLC now owns 23,500 shares of the company’s stock worth $118,000 after purchasing an additional 7,500 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in Joby Aviation by 40.0% during the third quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock worth $111,000 after buying an additional 6,000 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Joby Aviation Trading Down 6.6 %

NYSE JOBY opened at $6.98 on Friday. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72. The company has a 50 day moving average of $8.25 and a 200-day moving average of $6.66. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -9.96 and a beta of 2.33.

Insider Buying and Selling

In related news, Director Paul Cahill Sciarra sold 333,332 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the sale, the insider now owns 50,902 shares of the company’s stock, valued at $509,020. The trade was a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,023,005 shares of company stock worth $8,667,288 in the last three months. 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.