Hamilton Lane Advisors LLC Buys Shares of 51,448 Joby Aviation, Inc. (NYSE:JOBY)

Hamilton Lane Advisors LLC bought a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 51,448 shares of the company's stock, valued at approximately $418,000. Joby Aviation comprises about 0.4% of Hamilton Lane Advisors LLC's portfolio, making the stock its 15th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after purchasing an additional 670,852 shares in the last quarter. State Street Corp raised its holdings in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company's stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Ieq Capital LLC lifted its position 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 buying an additional 1,807,054 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company's stock worth $3,453,000 after buying an additional 616,579 shares during the period. Finally, Rhumbline Advisers increased its position 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 acquiring an additional 115,483 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded up $0.28 during midday trading on Thursday, reaching $8.38. 12,224,554 shares of the company's stock were exchanged, compared to its average volume of 18,263,623. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The business's fifty day moving average price is $7.88 and its two-hundred day moving average price is $6.29. The stock has a market capitalization of $6.41 billion, a PE ratio of -11.96 and a beta of 2.33.

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 (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,332 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the sale, the director now directly owns 58,994,729 shares of the company's stock, valued at $471,957,832. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the transaction, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 640,849 shares of company stock valued at $5,601,747 over the last ninety days. Corporate insiders own 32.40% of the company's stock.

Analysts Set New Price Targets

JOBY has been the subject of a number of research reports. Needham & Company LLC upped their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and upped their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. 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, December 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $9.30.

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.