Creek Drive Management Group LLC Makes New $2.07 Million Investment in Joby Aviation, Inc. $JOBY

Creek Drive Management Group LLC bought a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 157,000 shares of the company’s stock, valued at approximately $2,072,000. Joby Aviation accounts for about 1.4% of Creek Drive Management Group LLC’s portfolio, making the stock its 22nd largest holding.

Several other institutional investors also recently made changes to their positions in JOBY. Lingotto Investment Management LLP increased its position in Joby Aviation by 34.2% in the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after buying an additional 799,260 shares during the period. DNB Asset Management AS boosted its holdings in shares of Joby Aviation by 16.3% during the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after acquiring an additional 51,344 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Joby Aviation during the third quarter valued at $2,830,000. Kingsview Wealth Management LLC boosted its holdings in shares of Joby Aviation by 838.2% during the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock valued at $1,562,000 after acquiring an additional 86,446 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. 52.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JOBY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Morgan Stanley dropped their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.06.

Joby Aviation Trading Down 0.0%

NYSE:JOBY opened at $10.00 on Friday. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of -8.69 and a beta of 2.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. Joby Aviation, Inc. has a 1 year low of $7.75 and a 1 year high of $20.95. The business has a fifty day moving average of $9.91 and a 200-day moving average of $11.20.

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

Insider Activity

In other news, insider Eric Allison sold 74,844 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the transaction, the insider directly owned 676,008 shares in the company, valued at $6,760,080. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the completion of the transaction, the director owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. This trade represents a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,567,987 shares of company stock worth $16,177,273 in the last 90 days. 28.50% of the stock is currently owned by corporate insiders.

Joby Aviation Company 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.