Joby Aviation, Inc. (NYSE:JOBY) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC lifted its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 118.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,339 shares of the company’s stock after acquiring an additional 42,544 shares during the quarter. Verition Fund Management LLC’s holdings in Joby Aviation were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Joby Aviation in the third quarter worth $518,000. Caprock Group LLC increased its stake in shares of Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after acquiring an additional 79,896 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares in the last quarter. Rhumbline Advisers boosted its holdings in Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insider Activity

In related news, insider Gregory Bowles sold 7,748 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 535,526 shares of company stock worth $2,745,708 over the last three months. Insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JOBY. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Needham & Company LLC initiated coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Stock Down 4.0 %

JOBY opened at $7.62 on Friday. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -10.89 and a beta of 2.31. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $9.33. The firm’s fifty day simple moving average is $6.37 and its two-hundred day simple moving average is $5.68.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the business earned ($0.13) earnings per share. On average, research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

About Joby Aviation

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.