Joby Aviation, Inc. $JOBY Shares Bought by LPL Financial LLC

LPL Financial LLC grew its stake in Joby Aviation, Inc. (NYSE:JOBY) by 56.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 253,925 shares of the company’s stock after buying an additional 91,278 shares during the period. LPL Financial LLC’s holdings in Joby Aviation were worth $1,529,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Toyota Motor Corp purchased a new position in Joby Aviation in the fourth quarter valued at $640,259,000. Uber Technologies Inc acquired a new position in Joby Aviation in the 4th quarter valued at about $207,842,000. Rheos Capital Works Inc. raised its stake in shares of 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 acquiring an additional 2,150,000 shares during the period. Nuveen Asset Management LLC raised its stake in shares of 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 acquiring an additional 3,272,597 shares during the period. Finally, Northern Trust Corp increased its stake in Joby Aviation by 19.5% during the 4th quarter. Northern Trust Corp now owns 4,115,380 shares of the company’s stock worth $33,458,000 after buying an additional 672,946 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 57,328,059 shares in the company, valued at approximately $709,721,370.42. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 20,823 shares of Joby Aviation stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41. Following the completion of the transaction, the insider directly owned 202,276 shares of the company’s stock, valued at $2,765,112.92. This trade represents a 9.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,933,156 shares of company stock valued at $21,528,877. 28.50% of the stock is owned by insiders.

Joby Aviation Stock Down 1.9%

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

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The company’s revenue for the quarter was down 94.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) EPS. Equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on JOBY. JPMorgan Chase & Co. upped their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. HC Wainwright cut shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and upped their price objective for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Cantor Fitzgerald restated a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Hold” and an average target price of $10.50.

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.