UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Joby Aviation, Inc. (NYSE:JOBY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 386,931 shares of the company’s stock after selling 25,540 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of Joby Aviation worth $1,946,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Joby Aviation during the third quarter valued at $518,000. Caprock Group LLC boosted its holdings in Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after purchasing an additional 79,896 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings 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 valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Rhumbline Advisers boosted its holdings 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 purchasing an additional 115,483 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Up 2.0 %

Shares of NYSE JOBY opened at $7.78 on Monday. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $9.33. The company has a 50-day moving average of $6.41 and a 200 day moving average of $5.71.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the company posted ($0.13) EPS. As a group, research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the topic of several recent research reports. Needham & Company LLC initiated coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Insider Activity at Joby Aviation

In other news, insider Matthew Field sold 5,643 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,747,132.28. This represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This trade represents a 59.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 529,501 shares of company stock valued at $2,713,595. Corporate insiders own 32.40% of the company’s stock.

About Joby Aviation

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.