Fmr LLC Trims Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Fmr LLC decreased its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 54.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,034 shares of the company’s stock after selling 98,712 shares during the period. Fmr LLC’s holdings in Joby Aviation were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JOBY. Flaharty Asset Management LLC boosted its stake in shares of Joby Aviation by 25.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after purchasing an additional 3,000 shares in the last quarter. Amalgamated Bank lifted its holdings in Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares during the period. Larson Financial Group LLC boosted its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the period. Finally, Fullcircle Wealth LLC raised its position in shares of Joby Aviation by 40.0% in the 3rd quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock worth $111,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at $158,470,228.90. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 535,506 shares of company stock worth $2,759,533. Corporate insiders own 32.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JOBY shares. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday. Needham & Company LLC assumed coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price objective 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation has an average rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Trading Down 8.9 %

NYSE JOBY opened at $7.23 on Friday. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $9.33. The stock’s fifty day moving average price is $6.58 and its 200-day moving average price is $5.78. The stock has a market cap of $5.53 billion, a P/E ratio of -10.33 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during 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 quarter in the previous year, the firm earned ($0.13) EPS. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Joby Aviation Company 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.