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

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

Several other institutional investors have also recently made changes to their positions in JOBY. Ieq Capital LLC grew its stake in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after acquiring an additional 1,807,054 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Joby Aviation by 41.8% in 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 purchasing an additional 435,069 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Joby Aviation by 1,018.5% during the 2nd 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 in the last quarter. Rhumbline Advisers increased its holdings in shares of Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after purchasing an additional 115,483 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Joby Aviation by 15.0% in the third quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock worth $1,342,000 after buying an additional 34,866 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Canaccord Genuity Group decreased their price objective 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. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 535,506 shares of company stock worth $2,759,533 in the last 90 days. 32.40% of the stock is owned by company insiders.

Joby Aviation Trading Down 8.9 %

Shares of NYSE JOBY opened at $7.23 on Friday. The stock’s 50-day moving average is $6.58 and its 200 day moving average is $5.78. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of -10.33 and a beta of 2.32. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $9.33.

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

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.