Charles Schwab Investment Management Inc. Sells 744,759 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Charles Schwab Investment Management Inc. reduced its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,532,806 shares of the company's stock after selling 744,759 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.49% of Joby Aviation worth $17,770,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of Joby Aviation in the 3rd quarter worth about $518,000. Caprock Group LLC increased 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 worth $626,000 after purchasing an additional 79,896 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its stake 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 buying an additional 616,579 shares during the period. Rhumbline Advisers boosted its holdings in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company's stock worth $2,798,000 after buying an additional 115,483 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock worth $109,000 after buying an additional 5,025 shares during the period. 45.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory Bowles sold 7,748 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the transaction, the insider now owns 29,235 shares of the company's stock, valued at $236,218.80. This represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 535,526 shares of company stock worth $2,745,708. 32.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Joby Aviation Stock Up 9.3 %

JOBY stock traded up $0.75 during mid-day trading on Friday, reaching $8.84. 17,856,840 shares of the company traded hands, compared to its average volume of 21,320,714. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -12.63 and a beta of 2.32. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $9.33. The firm's 50 day moving average price is $6.15 and its 200 day moving average price is $5.60.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued 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). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter last year, the business posted ($0.13) earnings per share. On average, analysts anticipate 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.