Exchange Traded Concepts LLC Sells 1,060,864 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Exchange Traded Concepts LLC lowered its holdings in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 44.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,313,197 shares of the company's stock after selling 1,060,864 shares during the period. Exchange Traded Concepts LLC owned approximately 0.17% of Joby Aviation worth $10,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of JOBY. Amalgamated Bank boosted its position in Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company's stock worth $71,000 after acquiring an additional 4,391 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Joby Aviation by 142.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,200 shares of the company's stock worth $129,000 after purchasing an additional 14,805 shares during the period. Hsbc Holdings PLC grew its position in Joby Aviation by 27.9% during the second quarter. Hsbc Holdings PLC now owns 160,151 shares of the company's stock valued at $802,000 after purchasing an additional 34,890 shares in the last quarter. Xponance Inc. increased its stake in Joby Aviation by 52.0% in the 2nd quarter. Xponance Inc. now owns 25,614 shares of the company's stock valued at $131,000 after buying an additional 8,759 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Joby Aviation by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company's stock worth $1,266,000 after buying an additional 55,340 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded up $0.08 during mid-day trading on Friday, reaching $8.75. 12,511,174 shares of the company traded hands, compared to its average volume of 15,902,948. The company's fifty day moving average is $8.14 and its two-hundred day moving average is $6.41. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The stock has a market cap of $6.70 billion, a PE ratio of -12.51 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for 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 quarter last year, the business earned ($0.13) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on JOBY. JPMorgan Chase & Co. cut shares of Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their price target for the company from $5.00 to $6.00 in a report on Friday, January 10th. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Needham & Company LLC lifted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.30.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 7,748 shares of the business's stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at approximately $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the sale, the insider now owns 50,902 shares of the company's stock, valued at approximately $509,020. The trade was a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,338 shares of company stock valued at $5,864,050 in the last quarter. Insiders own 32.40% of the company's stock.

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.