MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.05 Million Stock Position in Joby Aviation, Inc. $JOBY

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,909 shares of the company’s stock after purchasing an additional 71,695 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Joby Aviation worth $3,050,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Xponance Inc. increased its position in shares of Joby Aviation by 6.5% during the 1st quarter. Xponance Inc. now owns 32,635 shares of the company’s stock worth $196,000 after purchasing an additional 1,993 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Joby Aviation by 1.1% during the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Joby Aviation by 23.6% during the 1st quarter. Brown Advisory Inc. now owns 13,905 shares of the company’s stock worth $84,000 after purchasing an additional 2,655 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Joby Aviation by 23.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,928 shares of the company’s stock worth $90,000 after purchasing an additional 2,877 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Joby Aviation by 5.6% during the 1st quarter. Arizona State Retirement System now owns 54,864 shares of the company’s stock worth $330,000 after purchasing an additional 2,906 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Ratings Changes

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

Joby Aviation Trading Up 2.4%

Shares of NYSE JOBY opened at $14.00 on Friday. The firm has a market capitalization of $11.99 billion, a PE ratio of -13.09 and a beta of 2.50. Joby Aviation, Inc. has a 1 year low of $4.78 and a 1 year high of $20.95. The firm’s 50-day moving average is $15.38 and its 200-day moving average is $9.97.

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 the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period last year, the business posted ($0.18) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bonny W. Simi sold 173,456 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $17.25, for a total value of $2,992,116.00. Following the sale, the insider directly owned 211,397 shares in the company, valued at $3,646,598.25. This trade represents a 45.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kate Dehoff sold 20,823 shares of the stock in a transaction that occurred on 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 sale, the insider owned 202,276 shares in the company, valued at $2,765,112.92. This represents a 9.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,444,313 shares of company stock worth $28,868,184 over the last ninety days. Company insiders own 28.50% of the company’s stock.

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.