102,916 Shares in Joby Aviation, Inc. (NYSE:JOBY) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 102,916 shares of the company’s stock, valued at approximately $518,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the last quarter. Empowered Funds LLC acquired a new position in Joby Aviation during the 3rd quarter worth approximately $51,000. Sound Income Strategies LLC lifted its stake in 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 purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC acquired a new stake in Joby Aviation in the second quarter valued at approximately $54,000. Finally, Dakota Wealth Management acquired a new stake in Joby Aviation in the second quarter valued at approximately $56,000. Institutional investors own 45.54% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the sale, the insider now directly owns 18,035 shares of the company’s stock, valued at $92,699.90. This represents a 59.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 535,526 shares of company stock valued at $2,745,708. Insiders own 32.40% of the company’s stock.

Joby Aviation Stock Up 11.9 %

Shares of NYSE JOBY opened at $8.95 on Monday. The company’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $5.48. The firm has a market cap of $6.85 billion, a PE ratio of -12.79 and a beta of 1.97. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $9.33.

Joby Aviation (NYSE:JOBY) last posted its earnings results 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 business had revenue of $0.28 million during the quarter, compared to analyst estimates 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 company earned ($0.13) EPS. On average, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Needham & Company LLC initiated coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Finally, Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and an average price target of $8.35.

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.