Principal Financial Group Inc. Has $188,000 Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Principal Financial Group Inc. trimmed its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 31.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 37,360 shares of the company’s stock after selling 16,934 shares during the period. Principal Financial Group Inc.’s holdings in Joby Aviation were worth $188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC grew its holdings in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Rhumbline Advisers boosted its position in Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after buying an additional 115,483 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Joby Aviation by 346.4% in the 2nd quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after acquiring an additional 260,780 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Joby Aviation

In other news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now owns 293,143 shares in the company, valued at $1,747,132.28. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the transaction, the insider now owns 18,035 shares in the company, valued at $92,699.90. The trade was a 59.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 527,778 shares of company stock valued at $2,683,104. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Stock Performance

NYSE:JOBY opened at $8.19 on Tuesday. The company has a market capitalization of $6.27 billion, a PE ratio of -11.70 and a beta of 1.97. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $8.43. The company has a 50 day simple moving average of $5.60 and a two-hundred day simple moving average of $5.40.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the business earned ($0.13) EPS. Research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation 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.