Joby Aviation, Inc. (NYSE:JOBY) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 685.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,315 shares of the company’s stock after buying an additional 65,721 shares during the period. Nisa Investment Advisors LLC’s holdings in Joby Aviation were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of JOBY. Raymond James Financial Inc. acquired a new position in Joby Aviation in the 4th quarter valued at about $2,168,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Joby Aviation in the 4th quarter valued at about $121,000. KLP Kapitalforvaltning AS purchased a new stake in Joby Aviation in the 4th quarter valued at about $311,000. Deutsche Bank AG raised its holdings in Joby Aviation by 26.0% in the 4th quarter. Deutsche Bank AG now owns 350,784 shares of the company’s stock valued at $2,852,000 after buying an additional 72,329 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Joby Aviation by 5,161.0% in the 1st quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock valued at $205,000 after buying an additional 33,443 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Bonny W. Simi sold 300,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.79, for a total transaction of $3,237,000.00. Following the sale, the insider directly owned 203,588 shares in the company, valued at approximately $2,196,714.52. This represents a 59.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Allison sold 27,538 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86. Following the transaction, the insider owned 660,076 shares in the company, valued at $7,901,109.72. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,034,320 shares of company stock worth $20,211,444. 28.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JOBY. Wall Street Zen upgraded shares of Joby Aviation from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Joby Aviation in a report on Wednesday, June 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $16.38 on Thursday. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $16.48. The firm’s 50 day moving average price is $8.96 and its 200 day moving average price is $7.74. The firm has a market cap of $12.97 billion, a P/E ratio of -19.50 and a beta of 2.47.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period last year, the business posted ($0.14) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.