102,916 Shares in Joby Aviation, Inc. (NYSE:JOBY) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 102,916 shares of the company’s stock, valued at approximately $518,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Joby Aviation during the third quarter worth about $51,000. Sound Income Strategies LLC boosted its position in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the period. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation during the second quarter valued at approximately $54,000. Finally, Dakota Wealth Management acquired a new stake in shares of Joby Aviation during the second quarter valued at about $56,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the 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 transaction, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 535,526 shares of company stock worth $2,745,708. 32.40% of the stock is currently owned by insiders.

Joby Aviation Stock Performance

JOBY opened at $8.95 on Monday. The company has a market cap of $6.85 billion, a PE ratio of -12.79 and a beta of 1.97. The stock has a 50-day moving average of $5.84 and a 200-day moving average of $5.48. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $9.33.

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