Handelsbanken Fonder AB Purchases 24,500 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Handelsbanken Fonder AB grew its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 31.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,700 shares of the company’s stock after buying an additional 24,500 shares during the period. Handelsbanken Fonder AB’s holdings in Joby Aviation were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Integris Wealth Management LLC bought a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Joby Aviation during the 2nd quarter valued at approximately $57,000. Finally, Choreo LLC purchased a new position in Joby Aviation during the second quarter valued at $60,000. 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 recently commented on JOBY. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $10.50 price target on shares of Joby Aviation in a research report on Friday, October 4th.

Joby Aviation Stock Performance

JOBY opened at $5.69 on Monday. The company’s 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $5.24. The stock has a market capitalization of $4.07 billion, a P/E ratio of -11.61 and a beta of 1.97. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $7.69.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the company earned ($0.17) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the transaction, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,784 shares of company stock valued at $2,359,050 in the last ninety days. 32.40% of the stock is currently owned by company insiders.

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.