State of New Jersey Common Pension Fund D Invests $2.38 Million in Joby Aviation, Inc. $JOBY

State of New Jersey Common Pension Fund D acquired a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) during the third quarter, HoldingsChannel reports. The fund acquired 147,202 shares of the company’s stock, valued at approximately $2,376,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc lifted its holdings in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of Joby Aviation during the 3rd quarter valued at $29,000. Hilltop National Bank purchased a new stake in Joby Aviation in the 3rd quarter worth $32,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JOBY shares. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Canaccord Genuity Group restated a “hold” rating and issued a $15.50 price target on shares of Joby Aviation in a research note on Tuesday, February 3rd. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. Finally, The Goldman Sachs Group started coverage on shares of Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and a consensus target price of $13.21.

Joby Aviation Stock Performance

NYSE JOBY opened at $9.86 on Monday. The stock has a 50 day moving average price of $13.00 and a 200-day moving average price of $14.57. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95. The company has a market capitalization of $8.99 billion, a P/E ratio of -7.35 and a beta of 2.57.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 507,182 shares of Joby Aviation stock in a transaction on Monday, February 9th. The shares were sold at an average price of $10.62, for a total value of $5,386,272.84. Following the completion of the transaction, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at $339,816,657.24. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the sale, the insider owned 125,114 shares in the company, valued at $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,458,924 shares of company stock worth $15,992,945 over the last three months. 32.40% of the stock is owned by company insiders.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.