Vanguard Group Inc. Has $273.13 Million Stock Position in Joby Aviation, Inc. $JOBY

Vanguard Group Inc. lowered its stake in Joby Aviation, Inc. (NYSE:JOBY) by 3.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,369,566 shares of the company’s stock after selling 1,390,996 shares during the period. Vanguard Group Inc. owned approximately 5.76% of Joby Aviation worth $273,125,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of JOBY. Toyota Motor Corp bought a new stake in Joby Aviation in the 4th quarter valued at about $640,259,000. Uber Technologies Inc bought a new stake in Joby Aviation in the 4th quarter valued at about $207,842,000. Rheos Capital Works Inc. boosted its holdings in Joby Aviation by 89.4% in the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company’s stock valued at $27,421,000 after purchasing an additional 2,150,000 shares during the period. Nuveen Asset Management LLC boosted its holdings in Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after purchasing an additional 3,272,597 shares during the period. Finally, Northern Trust Corp boosted its holdings in Joby Aviation by 19.5% in the 4th quarter. Northern Trust Corp now owns 4,115,380 shares of the company’s stock valued at $33,458,000 after purchasing an additional 672,946 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on JOBY shares. HC Wainwright downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their price objective for the company from $12.00 to $17.00 in a report on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.50.

Insider Activity at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the completion of the sale, the director owned 57,328,059 shares of the company’s stock, valued at approximately $709,721,370.42. This represents a 0.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bonny W. Simi sold 173,456 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the transaction, the insider owned 211,397 shares of the company’s stock, valued at approximately $3,646,598.25. This represents a 45.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,936,558 shares of company stock worth $21,551,263 in the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Trading Down 4.5%

Shares of Joby Aviation stock opened at $16.58 on Monday. The company has a 50 day moving average of $13.46 and a 200-day moving average of $9.10. Joby Aviation, Inc. has a 1-year low of $4.70 and a 1-year high of $20.95. The company has a market cap of $14.19 billion, a PE ratio of -15.50 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period last year, the company posted ($0.18) EPS. The business’s revenue was down 94.6% on a year-over-year basis. Research analysts forecast 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.