Nikko Asset Management Americas Inc. Buys 6,053 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Nikko Asset Management Americas Inc. increased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,608,477 shares of the company’s stock after purchasing an additional 6,053 shares during the period. Nikko Asset Management Americas Inc. owned 0.34% of Joby Aviation worth $21,207,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Bouvel Investment Partners LLC raised its position in Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,715 shares during the last quarter. Private Advisor Group LLC raised its position in Joby Aviation by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the last quarter. Larson Financial Group LLC raised its position in Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares during the last quarter. Empowered Funds LLC raised its position in Joby Aviation by 32.7% in the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after purchasing an additional 3,308 shares during the last quarter. Finally, Allworth Financial LP raised its position in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JOBY. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of 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 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group upped their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Stock Up 4.3 %

Shares of JOBY stock opened at $6.25 on Monday. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -8.92 and a beta of 2.35. The firm has a fifty day moving average of $7.72 and a 200-day moving average of $6.83.

Insider Activity

In related news, CEO Joeben Bevirt sold 23,886 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the transaction, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,015,470 shares of company stock valued at $8,600,479 in the last quarter. Company insiders own 32.40% of the company’s stock.

Joby Aviation Company Profile

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.