Charles Schwab Investment Management Inc. Sells 81,831 Shares of Joby Aviation, Inc. $JOBY

Charles Schwab Investment Management Inc. lowered its stake in Joby Aviation, Inc. (NYSE:JOBY) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,812,495 shares of the company’s stock after selling 81,831 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.48% of Joby Aviation worth $22,951,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after acquiring an additional 5,015 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation in the 4th quarter valued at about $41,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of Joby Aviation in the 4th quarter valued at about $41,000. Decker Retirement Planning Inc. raised its stake in shares of Joby Aviation by 250.0% in the 1st quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of Joby Aviation in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 472,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $9.82, for a total value of $4,635,040.00. Following the transaction, the chief executive officer owned 360,999 shares of the company’s stock, valued at approximately $3,545,010.18. This represents a 56.66% 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 link. Also, 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 value of $6,190,012.38. Following the completion of the transaction, the director directly owned 57,328,059 shares in the company, valued at $709,721,370.42. The trade was a 0.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,933,156 shares of company stock valued at $21,528,877 in the last three months. Corporate insiders own 28.50% of the company’s stock.

Joby Aviation Stock Performance

Joby Aviation stock opened at $14.4470 on Friday. Joby Aviation, Inc. has a 52 week low of $4.70 and a 52 week high of $20.95. The stock has a market capitalization of $12.37 billion, a P/E ratio of -13.50 and a beta of 2.52. The stock has a 50-day simple moving average of $13.92 and a 200 day simple moving average of $9.28.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) EPS 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 business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The company’s revenue for the quarter 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.

Analysts Set New Price Targets

Several research firms have issued reports on JOBY. 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. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation has a consensus rating of “Hold” and an average target price of $10.50.

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.