US Bancorp DE Sells 20,552 Shares of Joby Aviation, Inc. (NYSE:JOBY)

US Bancorp DE decreased its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 52.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,457 shares of the company’s stock after selling 20,552 shares during the quarter. US Bancorp DE’s holdings in Joby Aviation were worth $93,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC raised its position in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares during the period. Vanguard Group Inc. boosted its stake in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares in the last quarter. ProShare Advisors LLC grew its position in Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares during the period. Finally, Cetera Advisors LLC raised its stake in 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 acquiring an additional 5,025 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group reduced their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th.

Joby Aviation Price Performance

JOBY opened at $5.73 on Friday. The company’s 50 day simple moving average is $5.43 and its 200-day simple moving average is $5.34. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $7.69. The stock has a market capitalization of $4.10 billion, a P/E ratio of -8.19 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released 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 quarter in the previous year, the firm earned ($0.13) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.