ARK Investment Management LLC Sells 496,944 Shares of Joby Aviation, Inc. $JOBY

ARK Investment Management LLC reduced its stake in Joby Aviation, Inc. (NYSE:JOBY) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,010,461 shares of the company’s stock after selling 496,944 shares during the period. ARK Investment Management LLC owned 0.35% of Joby Aviation worth $48,589,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Toyota Motor Corp grew its stake in Joby Aviation by 63.1% in the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after buying an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. lifted its position in Joby Aviation by 13.2% during the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock worth $806,166,000 after acquiring an additional 5,828,189 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Joby Aviation by 5.4% during the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after acquiring an additional 573,328 shares during the period. State Street Corp grew its position in shares of Joby Aviation by 3.0% in the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after purchasing an additional 305,109 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Joby Aviation by 49.5% during the second quarter. Bank of America Corp DE now owns 2,968,697 shares of the company’s stock worth $31,320,000 after purchasing an additional 982,576 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Key Headlines Impacting Joby Aviation

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

• Positive Sentiment: Uber deal advances commercialization: Uber will integrate Joby flights into its app and support Dubai operations, speeding customer access and revenue opportunities as Joby readies commercial service. Uber platform to support Joby Dubai air taxi operations
• Positive Sentiment: Street support for the Uber-Air strategy: Morgan Stanley’s favorable take on Uber’s integration raised investor confidence that Joby can monetize rides via an established booking platform, a near-term demand catalyst. Joby Stock Gains After Morgan Stanley Backs Uber Air Strategy
• Positive Sentiment: FAA certification timeline improving commercial outlook: Reports note Joby expects FAA certification this year, which would be a critical regulatory milestone enabling revenue ramp from air taxi operations. Uber and Joby Aviation Team Up: Game Changer or Hype?
• Neutral Sentiment: Broad coverage reiterates the same catalyst path: Analyst and trade outlets (Zacks, The Motley Fool) highlight the Uber integration, Dubai debut and certification progress — useful confirmation but largely already priced in. Uber Enters Into a New Deal With Joby on Electric Air Taxis
• Negative Sentiment: Short-seller attention and risk callouts: JPMorgan listed Joby among top short ideas, spotlighting execution and valuation risks that can pressure the stock if progress slips. JPMorgan’s Top Short Ideas, 5 Weeks Later: Were They Right?
• Negative Sentiment: Scaling and profitability remain distant: Coverage notes that even with certification, large-scale operations, fleet economics and route density pose major hurdles — profitability is not imminent, which keeps longer-term valuation under scrutiny. Uber and Joby Aviation Team Up: Game Changer or Hype?

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 507,182 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $10.62, for a total value of $5,386,272.84. Following the sale, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at approximately $339,816,657.24. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bonny W. Simi sold 110,173 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the transaction, the insider owned 125,114 shares in the company, valued at approximately $1,732,828.90. The trade was a 46.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,470,074 shares of company stock valued at $16,083,913 in the last quarter. 28.50% of the stock is currently owned by company insiders.

Joby Aviation Stock Performance

NYSE JOBY opened at $9.90 on Thursday. The firm’s fifty day moving average price is $12.33 and its two-hundred day moving average price is $14.18. The stock has a market cap of $9.03 billion, a PE ratio of -8.68 and a beta of 2.59. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $30.84 million during the quarter, compared to analyst estimates of $16.88 million. During the same period in the prior year, the company earned ($0.34) EPS. The business’s quarterly revenue was up 5506.5% compared to the same quarter last year. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JOBY shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Needham & Company LLC lowered their target price on shares of Joby Aviation to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target for the company. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.81.

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.