ProShare Advisors LLC Sells 12,751 Shares of Joby Aviation, Inc. (NYSE:JOBY)

ProShare Advisors LLC cut its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 25.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,352 shares of the company’s stock after selling 12,751 shares during the quarter. ProShare Advisors LLC’s holdings in Joby Aviation were worth $190,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Joby Aviation in the first quarter worth approximately $15,357,000. Ieq Capital LLC grew its position in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. Bank of New York Mellon Corp raised its stake in Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after buying an additional 435,069 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Joby Aviation by 215.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after buying an additional 270,794 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JOBY. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.50 price target on shares of Joby Aviation in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the sale, the director now directly owns 59,828,059 shares in the company, valued at $308,114,503.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 481,976 shares of company stock worth $2,424,045 over the last three months. 32.40% of the stock is currently owned by company insiders.

Joby Aviation Price Performance

NYSE:JOBY opened at $5.95 on Friday. The stock has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $5.22. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $7.69.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share 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.