Bank of New York Mellon Corp Has $7.52 Million Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

Bank of New York Mellon Corp boosted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 41.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,474,677 shares of the company's stock after purchasing an additional 435,069 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Joby Aviation worth $7,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company's stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. 8VC GP I LLC acquired a new position in shares of Joby Aviation during the fourth quarter worth approximately $95,727,000. Charles Schwab Investment Management Inc. grew its stake in shares of Joby Aviation by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company's stock worth $25,394,000 after acquiring an additional 64,404 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Joby Aviation during the 1st quarter valued at $15,357,000. Finally, Lingotto Investment Management LLP raised its stake in Joby Aviation by 129.8% during the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company's stock valued at $13,892,000 after purchasing an additional 1,180,000 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on JOBY. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday. HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday, September 3rd. They issued a "buy" rating and a $9.00 target price for the company. Finally, Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a research note on Thursday, August 8th.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.03 on Thursday, hitting $5.35. The stock had a trading volume of 4,574,250 shares, compared to its average volume of 5,526,456. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $7.69. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -7.04 and a beta of 1.98. The firm's 50 day moving average price is $5.52 and its 200-day moving average price is $5.23.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the firm posted ($0.17) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In other news, insider Kate Dehoff sold 5,815 shares of the company's stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the sale, the insider now directly owns 199,413 shares of the company's stock, valued at approximately $1,348,031.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Field sold 11,766 shares of the business's stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the sale, the insider now owns 299,880 shares of the company's stock, valued at approximately $1,550,379.60. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $1,613,336 over the last ninety days. 32.40% of the stock is owned by insiders.

Joby Aviation Company 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.