Vanguard Group Inc. Has $211.28 Million Position in Joby Aviation, Inc. (NYSE:JOBY)

Vanguard Group Inc. cut its position in Joby Aviation, Inc. (NYSE:JOBY) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,770,612 shares of the company’s stock after selling 2,360,132 shares during the period. Vanguard Group Inc. owned about 4.58% of Joby Aviation worth $211,275,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JOBY. Monterey Private Wealth Inc. bought a new stake in Joby Aviation during the 4th quarter worth approximately $67,000. International Assets Investment Management LLC acquired a new position in shares of Joby Aviation in the fourth quarter valued at approximately $73,000. Teza Capital Management LLC bought a new stake in shares of Joby Aviation during the third quarter worth $76,000. Private Advisor Group LLC bought a new stake in Joby Aviation in the 4th quarter valued at $77,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Joby Aviation in the 4th quarter valued at $86,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $4.96 on Wednesday. The business has a 50-day moving average of $5.04 and a 200-day moving average of $5.44. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -6.53 and a beta of 2.00. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $11.30.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 97.5% compared to the same quarter last year. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JOBY. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday. JPMorgan Chase & Co. raised Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Friday, May 3rd.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 5,448 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the sale, the chief executive officer now owns 662,605 shares in the company, valued at $3,074,487.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Matthew Field sold 13,953 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the sale, the insider now owns 269,196 shares in the company, valued at approximately $1,335,212.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $4.64, for a total transaction of $25,278.72. Following the transaction, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,475 shares of company stock worth $248,636. Insiders own 32.40% of the company’s stock.

Joby Aviation 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.