Geode Capital Management LLC Boosts Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Geode Capital Management LLC lifted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,390,720 shares of the company’s stock after purchasing an additional 670,852 shares during the quarter. Geode Capital Management LLC owned 1.31% of Joby Aviation worth $47,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Joby Aviation during the third quarter valued at about $51,000. Sound Income Strategies LLC lifted its stake in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the second quarter valued at $57,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Down 0.9 %

JOBY opened at $7.62 on Tuesday. The company has a market cap of $5.83 billion, a P/E ratio of -10.89 and a beta of 2.32. The firm’s 50-day moving average price is $6.62 and its 200-day moving average price is $5.81. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $9.33.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Matthew Field sold 11,764 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $5.78, for a total value of $67,995.92. Following the transaction, the insider now owns 298,786 shares of the company’s stock, valued at $1,726,983.08. This represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,731 shares of company stock valued at $2,621,909. 32.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JOBY shares. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Finally, Canaccord Genuity Group cut their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

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.