Rhumbline Advisers Increases Stake in Joby Aviation, Inc. (NYSE:JOBY)

Rhumbline Advisers lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 26.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548,724 shares of the company’s stock after acquiring an additional 115,483 shares during the quarter. Rhumbline Advisers owned 0.08% of Joby Aviation worth $2,798,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC purchased a new position in Joby Aviation in the second quarter valued at about $54,000. Dakota Wealth Management acquired a new stake in shares of Joby Aviation during the 2nd quarter valued at approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $57,000. Finally, Fullcircle Wealth LLC acquired a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $76,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JOBY. Canaccord Genuity Group decreased their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 9th. Finally, HC Wainwright started coverage on shares of Joby Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target on the stock.

Joby Aviation Stock Down 1.1 %

JOBY opened at $5.20 on Thursday. The business’s fifty day simple moving average is $5.53 and its 200 day simple moving average is $5.22. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $7.69. The firm has a market cap of $3.72 billion, a P/E ratio of -6.84 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the sale, the insider now owns 54,666 shares in the company, valued at $265,676.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares in the company, valued at $265,676.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last three months, insiders sold 327,840 shares of company stock worth $1,624,660. Insiders own 32.40% of the company’s stock.

Joby Aviation Company 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.