Joby Aviation (NYSE:JOBY) Shares Up 2.3%

Joby Aviation, Inc. (NYSE:JOBY)’s stock price was up 2.3% during trading on Monday . The stock traded as high as $6.89 and last traded at $6.76. Approximately 4,409,246 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 5,242,270 shares. The stock had previously closed at $6.61.

Wall Street Analyst Weigh In

JOBY has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday.

Joby Aviation Stock Up 5.6 %

The company’s fifty day moving average price is $5.08 and its two-hundred day moving average price is $5.36. The company has a market cap of $4.94 billion, a price-to-earnings ratio of -9.14 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. Joby Aviation’s revenue for the quarter was down 97.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) earnings per share. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Matthew Field sold 13,953 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the sale, the insider now owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,582 shares of company stock valued at $1,641,976. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. lifted its position in shares of Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after buying an additional 5,267,436 shares during the last quarter. Vanguard Group Inc. lifted its stake in Joby Aviation by 9.1% in the 1st 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 last quarter. 8VC GP I LLC acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $95,727,000. Charles Schwab Investment Management Inc. grew its stake in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after buying an additional 64,404 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Joby Aviation by 7.2% in the 4th quarter. ARK Investment Management LLC now owns 3,404,900 shares of the company’s stock valued at $22,643,000 after acquiring an additional 227,331 shares during the last quarter. Institutional investors own 45.54% 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.