Joby Aviation, Inc. (NYSE:JOBY) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 28.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,275 shares of the company’s stock after buying an additional 55,340 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Joby Aviation were worth $1,266,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation during the 1st quarter worth approximately $15,357,000. Bank of New York Mellon Corp lifted its position in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after buying an additional 435,069 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Joby Aviation by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after purchasing an additional 115,483 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.50 price target on shares of Joby Aviation in a research report on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,348,031.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,599 shares of company stock worth $2,398,359. 32.40% of the stock is owned by insiders.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $5.69 on Friday. The company has a market cap of $4.07 billion, a P/E ratio of -11.57 and a beta of 1.97. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $7.69. The firm has a fifty day moving average of $5.19 and a two-hundred day moving average of $5.24.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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 in the previous year, the company posted ($0.17) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.