Northern Trust Corp Sells 130,775 Shares of Joby Aviation, Inc. $JOBY

Northern Trust Corp trimmed its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,984,605 shares of the company’s stock after selling 130,775 shares during the quarter. Northern Trust Corp owned about 0.51% of Joby Aviation worth $23,987,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JOBY. Envestnet Asset Management Inc. bought a new stake in shares of Joby Aviation during the 4th quarter valued at $259,000. First Trust Advisors LP bought a new stake in shares of Joby Aviation during the 4th quarter worth $85,000. Stifel Financial Corp lifted its position in shares of Joby Aviation by 61.4% during the 4th quarter. Stifel Financial Corp now owns 17,824 shares of the company’s stock worth $145,000 after buying an additional 6,778 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Joby Aviation by 30.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 328,594 shares of the company’s stock worth $2,672,000 after buying an additional 76,055 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Joby Aviation by 5.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 259,755 shares of the company’s stock worth $2,112,000 after buying an additional 12,882 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on JOBY. 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. Canaccord Genuity Group downgraded 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. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.50.

Joby Aviation Stock Down 0.7%

Shares of JOBY opened at $14.17 on Monday. Joby Aviation, Inc. has a 12-month low of $4.70 and a 12-month high of $20.95. The business has a 50-day simple moving average of $14.61 and a two-hundred day simple moving average of $9.58. The stock has a market cap of $12.13 billion, a PE ratio of -13.25 and a beta of 2.51.

Joby Aviation (NYSE:JOBY) last issued its earnings results 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). 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 during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company earned ($0.18) EPS. Joby Aviation’s revenue for the quarter was down 94.6% on a year-over-year basis. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 20,823 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the sale, the insider owned 202,276 shares of the company’s stock, valued at approximately $2,765,112.92. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Allison sold 27,538 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.97, for a total value of $329,629.86. Following the completion of the sale, the insider directly owned 660,076 shares of the company’s stock, valued at approximately $7,901,109.72. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,444,313 shares of company stock valued at $28,868,184. Corporate insiders own 32.40% of the company’s stock.

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.