Polen Capital Management LLC Decreases Stock Position in Joby Aviation, Inc. $JOBY

Polen Capital Management LLC cut its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 21.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 250,067 shares of the company’s stock after selling 68,200 shares during the period. Polen Capital Management LLC’s holdings in Joby Aviation were worth $3,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JOBY. Vanguard Group Inc. raised its position in shares of Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after purchasing an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC raised its holdings in Joby Aviation by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after acquiring an additional 390,794 shares in the last quarter. State Street Corp boosted its stake in Joby Aviation by 3.0% during the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after acquiring an additional 305,109 shares during the last quarter. Bank of America Corp DE grew its holdings in Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock worth $67,661,000 after acquiring an additional 1,223,412 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its holdings in Joby Aviation by 45.0% during the 4th quarter. Rheos Capital Works Inc. now owns 3,545,000 shares of the company’s stock worth $46,794,000 after acquiring an additional 1,100,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

JOBY has been the topic of a number of recent analyst reports. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, February 26th. Morgan Stanley lowered their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group lowered their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and an average price target of $13.06.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $9.40 on Friday. The company has a market cap of $9.24 billion, a P/E ratio of -8.17 and a beta of 2.66. The business has a 50 day moving average of $9.78 and a two-hundred day moving average of $11.37. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The business had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $20.17 million. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CFO Rodrigo Brumana sold 78,489 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the sale, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This trade represents a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the transaction, the insider directly owned 676,008 shares of the company’s stock, valued at approximately $6,760,080. This trade represents a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,566,838 shares of company stock valued at $16,167,306 over the last three months. 28.50% of the stock is currently owned by company insiders.

Joby Aviation Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.