Voya Investment Management LLC Sells 136,540 Shares of Joby Aviation, Inc. $JOBY

Voya Investment Management LLC cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 14.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 837,812 shares of the company’s stock after selling 136,540 shares during the quarter. Voya Investment Management LLC owned approximately 0.11% of Joby Aviation worth $5,044,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in JOBY. Ameriprise Financial Inc. bought a new position in shares of Joby Aviation during the 4th quarter valued at approximately $498,000. BNP Paribas Financial Markets bought a new position in Joby Aviation in the 4th quarter worth approximately $495,000. Captrust Financial Advisors bought a new position in Joby Aviation in the 4th quarter worth approximately $172,000. Cetera Investment Advisers boosted its stake in Joby Aviation by 30.8% in the 4th quarter. Cetera Investment Advisers now owns 38,276 shares of the company’s stock worth $311,000 after purchasing an additional 9,019 shares during the period. Finally, Deutsche Bank AG boosted its stake in Joby Aviation by 26.0% in the 4th quarter. Deutsche Bank AG now owns 350,784 shares of the company’s stock worth $2,852,000 after purchasing an additional 72,329 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 20,823 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the sale, the insider owned 202,276 shares in the company, valued at $2,765,112.92. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 500,001 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $14.30, for a total value of $7,150,014.30. Following the completion of the sale, the director owned 56,328,057 shares in the company, valued at approximately $805,491,215.10. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,947,597 shares of company stock valued at $36,091,772. Insiders own 28.50% of the company’s stock.

Joby Aviation Stock Performance

NYSE:JOBY opened at $14.65 on Friday. The stock’s fifty day moving average is $15.61 and its 200 day moving average is $10.18. Joby Aviation, Inc. has a fifty-two week low of $4.78 and a fifty-two week high of $20.95. The firm has a market capitalization of $12.54 billion, a PE ratio of -13.69 and a beta of 2.50.

Joby Aviation (NYSE:JOBY) last released its 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 business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the business earned ($0.18) EPS. The business’s revenue for the quarter was down 94.6% on a year-over-year basis. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several recent research reports. 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 report on Friday, August 1st. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Canaccord Genuity Group cut 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 report on Thursday, August 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.