Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Joby Aviation, Inc. (NYSE:JOBY) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,602,424 shares of the company’s stock after selling 170,877 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Joby Aviation were worth $13,090,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in Joby Aviation by 15.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock valued at $1,342,000 after purchasing an additional 34,866 shares during the period. Fullcircle Wealth LLC lifted its holdings in shares of Joby Aviation by 40.0% during the 3rd quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock worth $111,000 after acquiring an additional 6,000 shares during the last quarter. Modera Wealth Management LLC lifted its holdings in shares of Joby Aviation by 46.9% during the 3rd quarter. Modera Wealth Management LLC now owns 23,500 shares of the company’s stock worth $118,000 after acquiring an additional 7,500 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after acquiring an additional 9,188 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Joby Aviation by 45.3% during the 3rd quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after acquiring an additional 10,765 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Field sold 5,643 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock valued at $2,667,151 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JOBY. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd.

Joby Aviation Stock Down 3.0 %

Shares of Joby Aviation stock opened at $5.73 on Monday. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -8.19 and a beta of 1.97. The company’s 50 day moving average is $5.43 and its 200 day moving average is $5.34. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $7.69.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the company posted ($0.13) earnings per share. Sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.