Joby Aviation, Inc. (NYSE:JOBY) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in Joby Aviation, Inc. (NYSE:JOBY) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,003 shares of the company’s stock after acquiring an additional 2,065 shares during the period. California State Teachers Retirement System’s holdings in Joby Aviation were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Toyota Motor Corp purchased a new stake in shares of Joby Aviation in the 4th quarter valued at about $640,259,000. Uber Technologies Inc acquired a new position in Joby Aviation during the fourth quarter worth approximately $207,842,000. Vanguard Group Inc. lifted its stake in Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after buying an additional 6,388,232 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after acquiring an additional 3,272,597 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after acquiring an additional 2,281,161 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the transaction, the director now directly owns 58,494,728 shares of the company’s stock, valued at approximately $396,594,255.84. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of Joby Aviation stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $5.03 per share, with a total value of $250,000,003.70. Following the completion of the transaction, the director now owns 122,573,621 shares in the company, valued at approximately $616,545,313.63. This trade represents a 68.20% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 750,950 shares of company stock valued at $4,640,619. Corporate insiders own 28.50% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reissued a “buy” rating and set a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $8.15 on Monday. Joby Aviation, Inc. has a one year low of $4.66 and a one year high of $10.72. The company has a market cap of $6.45 billion, a P/E ratio of -11.64 and a beta of 2.39. The firm has a fifty day moving average of $6.61 and a two-hundred day moving average of $7.32.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.07. 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 previous year, the company earned ($0.14) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.