Joby Aviation, Inc. $JOBY Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 32.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,856 shares of the company’s stock after buying an additional 47,705 shares during the period. New York State Common Retirement Fund’s holdings in Joby Aviation were worth $3,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Toyota Motor Corp grew its stake in shares of Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after acquiring an additional 49,701,790 shares in the last quarter. Geode Capital Management LLC grew its stake in Joby Aviation by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after purchasing an additional 573,328 shares in the last quarter. State Street Corp increased its holdings in Joby Aviation by 3.0% during the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company’s stock worth $109,636,000 after purchasing an additional 305,109 shares during the period. Rheos Capital Works Inc. increased its holdings in Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after purchasing an additional 2,650,000 shares during the period. Finally, ARK Investment Management LLC raised its position in Joby Aviation by 1.9% in the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock valued at $37,003,000 after purchasing an additional 64,562 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,429 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $15.84, for a total value of $101,835.36. Following the completion of the sale, the insider directly owned 113,718 shares of the company’s stock, valued at approximately $1,801,293.12. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Allison sold 21,493 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $14.84, for a total value of $318,956.12. Following the completion of the sale, the insider directly owned 702,604 shares of the company’s stock, valued at approximately $10,426,643.36. This trade represents a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 297,750 shares of company stock valued at $4,138,695. 28.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of analyst reports. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a report on Tuesday. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Finally, The Goldman Sachs Group initiated 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 for the company. One research 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. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and an average target price of $13.21.

Joby Aviation Trading Up 11.2%

Shares of NYSE:JOBY opened at $10.52 on Friday. The company has a market capitalization of $9.59 billion, a PE ratio of -7.85 and a beta of 2.57. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95. The firm has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $15.14.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter last year, the business earned ($0.21) earnings per share. Joby Aviation’s revenue was up 7962.1% on a year-over-year basis. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.