State Street Corp Buys 812,248 Shares of Joby Aviation, Inc. (NYSE:JOBY)

State Street Corp lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,372,636 shares of the company's stock after acquiring an additional 812,248 shares during the period. State Street Corp owned approximately 1.31% of Joby Aviation worth $47,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Holocene Advisors LP lifted its stake in Joby Aviation by 91.7% during the third quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock worth $2,622,000 after purchasing an additional 249,375 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company's stock worth $621,000 after buying an additional 58,229 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Joby Aviation by 118.9% during the 3rd quarter. Verition Fund Management LLC now owns 78,339 shares of the company's stock worth $394,000 after buying an additional 42,544 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Joby Aviation in the third quarter valued at about $79,000. Finally, Larson Financial Group LLC grew its position 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 acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Insider Buying and Selling

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gregory Bowles sold 26,775 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the transaction, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. This represents a 59.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,506 shares of company stock valued at $2,759,533 over the last ninety days. 32.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on JOBY. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. 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 report on Tuesday, October 29th. HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday. Needham & Company LLC initiated coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 29th. One equities research 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.com, Joby Aviation has an average rating of "Moderate Buy" and a consensus target price of $8.35.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.46 during mid-day trading on Friday, reaching $7.69. 27,645,025 shares of the company's stock were exchanged, compared to its average volume of 8,850,715. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $9.33. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -10.99 and a beta of 2.32. The business's fifty day moving average price is $6.58 and its 200-day moving average price is $5.78.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results 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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the prior year, the business earned ($0.13) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.