Baillie Gifford & Co. Sells 2,403,776 Shares of Joby Aviation, Inc. $JOBY

Baillie Gifford & Co. lessened its stake in Joby Aviation, Inc. (NYSE:JOBY) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,420,953 shares of the company’s stock after selling 2,403,776 shares during the period. Baillie Gifford & Co. owned approximately 5.89% of Joby Aviation worth $813,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the period. AQR Capital Management LLC purchased a new stake in Joby Aviation during the first quarter valued at approximately $273,000. Strs Ohio bought a new position in Joby Aviation in the first quarter worth approximately $37,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Joby Aviation by 63.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,788 shares of the company’s stock worth $399,000 after acquiring an additional 14,676 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of Joby Aviation by 75.7% during the 2nd quarter. Dakota Wealth Management now owns 19,179 shares of the company’s stock worth $202,000 after acquiring an additional 8,264 shares during the last quarter. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

Shares of JOBY opened at $13.91 on Friday. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -10.38 and a beta of 2.56. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95. The business’s 50 day simple moving average is $14.46 and its 200-day simple moving average is $15.35.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The business’s revenue was up 7962.1% compared to the same quarter last year. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Eric Allison sold 32,448 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total value of $429,936.00. Following the completion of the sale, the insider directly owned 659,980 shares of the company’s stock, valued at $8,744,735. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 11,650 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.51, for a total value of $157,391.50. Following the transaction, the insider directly owned 120,147 shares in the company, valued at approximately $1,623,185.97. This represents a 8.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 289,556 shares of company stock worth $4,052,822 in the last quarter. Company insiders own 28.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley boosted their price target on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research note on Thursday, November 6th. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group began coverage on shares of Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 target price on the stock. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and an average price target of $13.43.

Joby Aviation Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.