Verition Fund Management LLC Grows Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Verition Fund Management LLC grew its stake in Joby Aviation, Inc. (NYSE:JOBY) by 118.9% during the third quarter, Holdings Channel.com reports. The fund owned 78,339 shares of the company’s stock after acquiring an additional 42,544 shares during the period. Verition Fund Management LLC’s holdings in Joby Aviation were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JOBY. Cetera Advisors LLC grew its holdings in shares of Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Joby Aviation by 346.4% in the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after purchasing an additional 260,780 shares in the last quarter. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation in the second quarter valued at approximately $54,000. Nisa Investment Advisors LLC grew 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 valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Joby Aviation in the second quarter valued at approximately $56,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Canaccord Genuity Group lowered their price target 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. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price target 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Down 4.0 %

NYSE JOBY opened at $7.62 on Friday. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $9.33. The stock has a market capitalization of $5.83 billion, a PE ratio of -10.89 and a beta of 2.31. The firm has a 50 day moving average of $6.37 and a two-hundred day moving average of $5.68.

Joby Aviation (NYSE:JOBY) last issued 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at $158,470,228.90. This represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 535,526 shares of company stock worth $2,745,708. Corporate insiders own 32.40% of the company’s stock.

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.