Intech Investment Management LLC Takes Position in Joby Aviation, Inc. (NYSE:JOBY)

Intech Investment Management LLC purchased a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 102,916 shares of the company's stock, valued at approximately $518,000.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in Joby Aviation by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company's stock valued at $1,037,000 after purchasing an additional 10,234 shares in the last quarter. Cetera Advisors LLC grew its stake 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 in the last quarter. DNB Asset Management AS grew its stake in Joby Aviation by 21.1% in the second quarter. DNB Asset Management AS now owns 88,906 shares of the company's stock valued at $453,000 after purchasing an additional 15,504 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Joby Aviation by 346.4% in the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company's stock valued at $1,714,000 after buying an additional 260,780 shares during the last quarter. Finally, Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at approximately $54,000. 45.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at approximately $158,470,228.90. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,526 shares of company stock valued at $2,745,708 in the last three months. Corporate insiders own 32.40% of the company's stock.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $8.95 on Monday. The stock has a market capitalization of $6.85 billion, a PE ratio of -12.79 and a beta of 1.97. The business has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $5.48. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $9.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.13) earnings per share. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Canaccord Genuity Group cut their price objective on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research report on Tuesday, October 29th. 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 research report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC assumed coverage on Joby Aviation in a research report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.35.

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.