Empowered Funds LLC Buys New Shares in Joby Aviation, Inc. (NYSE:JOBY)

Empowered Funds LLC purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the third quarter, HoldingsChannel.com reports. The fund purchased 10,101 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 valued at $185,776,000 after purchasing an additional 2,889,012 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Joby Aviation by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after acquiring an additional 10,234 shares in the last quarter. Cetera Advisors LLC grew its position in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after buying an additional 5,025 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Joby Aviation by 21.1% in the second quarter. DNB Asset Management AS now owns 88,906 shares of the company’s stock valued at $453,000 after acquiring an additional 15,504 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Joby Aviation by 346.4% during the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after buying an additional 260,780 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Ratings Changes

JOBY has been the topic of a number of research analyst reports. 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. JPMorgan Chase & Co. decreased 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. Needham & Company LLC assumed coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group reduced their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock 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. According to data from MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.91 on Wednesday. The stock has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $5.42. The stock has a market capitalization of $6.05 billion, a P/E ratio of -11.29 and a beta of 1.97. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $8.43.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the company earned ($0.13) earnings per share. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,666 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now directly owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,526 shares of company stock valued at $2,745,708 in the last three months. Corporate insiders own 32.40% of the company’s stock.

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.