Bank of New York Mellon Corp Purchases 95,348 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Bank of New York Mellon Corp lifted its position in Joby Aviation, Inc. (NYSE:JOBY) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,052,861 shares of the company’s stock after buying an additional 95,348 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Joby Aviation worth $10,802,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in JOBY. FMR LLC increased its holdings in Joby Aviation by 60.7% during the 1st quarter. FMR LLC now owns 6,065 shares of the company’s stock worth $26,000 after purchasing an additional 2,290 shares in the last quarter. CWM LLC increased its holdings in Joby Aviation by 78.4% during the 1st quarter. CWM LLC now owns 8,301 shares of the company’s stock worth $36,000 after purchasing an additional 3,649 shares in the last quarter. Toroso Investments LLC bought a new position in Joby Aviation during the 4th quarter worth about $36,000. Cahaba Wealth Management Inc. bought a new position in Joby Aviation during the 1st quarter worth about $43,000. Finally, Independent Advisor Alliance bought a new position in Joby Aviation during the 1st quarter worth about $44,000. Institutional investors own 36.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, Joby Aviation has an average rating of “Hold” and a consensus price target of $7.60.

Joby Aviation Price Performance

Joby Aviation stock opened at $6.15 on Friday. The firm has a 50-day moving average of $6.13 and a 200-day moving average of $6.86. Joby Aviation, Inc. has a one year low of $3.15 and a one year high of $11.98. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -8.20 and a beta of 2.17.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 5,968 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $6.72, for a total value of $40,104.96. Following the completion of the sale, the insider now directly owns 5,673 shares in the company, valued at approximately $38,122.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Didier Papadopoulos sold 5,968 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $6.72, for a total value of $40,104.96. Following the completion of the sale, the insider now directly owns 5,673 shares in the company, valued at approximately $38,122.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $6.22, for a total transaction of $1,555,000.00. Following the completion of the sale, the chief executive officer now owns 33,328,734 shares of the company’s stock, valued at $207,304,725.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 291,250 shares of company stock worth $1,814,923. Insiders own 49.50% of the company’s stock.

Joby Aviation 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.