Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,492 shares of the company’s stock after selling 2,310 shares during the quarter. Principal Financial Group Inc.’s holdings in Joby Aviation were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JOBY. Teacher Retirement System of Texas purchased a new position in Joby Aviation in the 1st quarter valued at about $168,000. Decker Retirement Planning Inc. grew its position in Joby Aviation by 250.0% in the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company’s stock valued at $42,000 after acquiring an additional 5,000 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Joby Aviation by 138.8% during the 1st quarter. Golden State Wealth Management LLC now owns 12,300 shares of the company’s stock valued at $74,000 after buying an additional 7,150 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Joby Aviation by 38.4% during the 1st quarter. Spire Wealth Management now owns 18,652 shares of the company’s stock valued at $112,000 after buying an additional 5,174 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC bought a new position in Joby Aviation during the first quarter worth $73,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

JOBY opened at $17.79 on Monday. The business has a 50 day moving average price of $9.40 and a 200 day moving average price of $7.87. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $18.33. The firm has a market cap of $14.09 billion, a P/E ratio of -21.18 and a beta of 2.47.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 in the prior year, the company posted ($0.14) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 500,001 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.38, for a total value of $6,190,012.38. Following the transaction, the director owned 57,328,059 shares of the company’s stock, valued at approximately $709,721,370.42. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory Bowles sold 7,961 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total value of $81,839.08. Following the completion of the transaction, the insider directly owned 153,280 shares in the company, valued at approximately $1,575,718.40. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,867,653 shares of company stock valued at $19,256,442 in the last quarter. 32.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, June 23rd. Wall Street Zen raised Joby Aviation from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Joby Aviation presently has an average rating of “Hold” and an average price target of $9.33.

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.