Fmr LLC Decreases Position in Joby Aviation, Inc. (NYSE:JOBY)

FMR LLC trimmed its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 54.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 83,034 shares of the company's stock after selling 98,712 shares during the period. FMR LLC's holdings in Joby Aviation were worth $418,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in JOBY. Larson Financial Group LLC boosted its holdings in Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after purchasing an additional 5,000 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after buying an additional 5,840 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation during the third quarter worth approximately $51,000. Sound Income Strategies LLC boosted its holdings in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock valued at $52,000 after buying an additional 10,000 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Joby Aviation in the 2nd quarter valued at $57,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on JOBY shares. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price objective for the company. Canaccord Genuity Group lowered 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 report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $8.35.

Joby Aviation Price Performance

Shares of JOBY stock traded up $0.46 during midday trading on Friday, hitting $7.69. The company had a trading volume of 27,645,025 shares, compared to its average volume of 8,850,715. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -10.99 and a beta of 2.32. The company's 50 day simple moving average is $6.62 and its 200 day simple moving average is $5.80. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $9.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analysts' expectations 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) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares in the company, valued at $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 available through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. This represents a 59.75 % 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 over the last ninety days. 32.40% of the stock is currently owned by company insiders.

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.