Citigroup Inc. Sells 110,759 Shares of Joby Aviation, Inc. $JOBY

Citigroup Inc. reduced its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 35.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,437 shares of the company’s stock after selling 110,759 shares during the quarter. Citigroup Inc.’s holdings in Joby Aviation were worth $3,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of JOBY. Asset Planning Inc grew its position in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Joby Aviation during the third quarter valued at approximately $29,000. Hilltop National Bank bought a new position in shares of Joby Aviation in the third quarter worth approximately $32,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after buying an additional 750 shares during the period. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Trading Down 2.9%

Joby Aviation stock opened at $9.60 on Friday. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -8.42 and a beta of 2.59. The business’s fifty day simple moving average is $12.23 and its two-hundred day simple moving average is $14.15.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. The company had revenue of $30.84 million during the quarter, compared to analysts’ expectations of $16.88 million. During the same period in the prior year, the firm earned ($0.34) EPS. Joby Aviation’s revenue for the quarter was up 5506.5% compared to the same quarter last year. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In related news, insider Kate Dehoff sold 28,260 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $14.72, for a total value of $415,987.20. Following the completion of the transaction, the insider directly owned 149,369 shares in the company, valued at $2,198,711.68. The trade was a 15.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bonny W. Simi sold 110,173 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.85, for a total value of $1,525,896.05. Following the sale, the insider owned 125,114 shares in the company, valued at approximately $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,470,074 shares of company stock valued at $16,083,913 over the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JOBY. Canaccord Genuity Group reissued a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Oppenheimer set a $18.00 target price on Joby Aviation in a research note on Thursday, February 26th. Needham & Company LLC reduced their price target on Joby Aviation to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, HC Wainwright raised Joby Aviation from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.81.

More Joby Aviation News

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Major backing from ARK Invest: Cathie Wood’s fund made multi-million dollar purchases in air-taxi names including Joby, signaling conviction from a large, thematic investor as commercial rollouts approach. Cathie Wood Doubles Down on Air-Taxi Stocks with Multi-Million Dollar Purchases
• Positive Sentiment: Exclusive Dubai commercial launch with Uber: Joby has an exclusive agreement with Dubai’s RTA and plans the first all‑electric air taxi deployment bookable through the Uber app — a clear near-term revenue pathway and real-world operations proof point. Joby And Uber Test Commercial Electric Air Taxis In Exclusive Dubai Launch
• Positive Sentiment: Uber is integrating air taxis into its mobility platform: Uber’s launch of Uber Air in Dubai (and broader mobility moves) increases distribution and booking scale for Joby’s service, lowering go‑to‑market friction. Uber Expands Into Air Taxis And Autonomy To Broaden Mobility Platform
• Neutral Sentiment: Investor comparison vs. peers: Analytical pieces comparing Joby to Archer frame Joby’s strengths (operational lead, Uber tie-up) against valuation and execution risks; useful for relative allocation decisions but not a direct catalyst. Joby Aviation (JOBY) vs Archer Aviation (ACHR): Which eVTOL Stock Should You Buy in 2025?
• Negative Sentiment: Scaling & profitability doubts persist: Coverage notes Joby expects FAA certification soon but warns scaling operations and achieving profitability remain distant — a reminder investors may be pricing in long timelines and high cash burn. Uber and Joby Aviation Team Up: Game Changer or Hype?
• Negative Sentiment: Research/short-seller attention: JPMorgan included Joby on a short-ideas list earlier this year; recent scorecards are mixed but the inclusion keeps downside pressure and volatility a risk until clear, sustained revenue/profit signals arrive. JPMorgan’s Top Short Ideas, 5 Weeks Later: Were They Right?

About Joby Aviation

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.