Joby Aviation, Inc. (NYSE:JOBY) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in Joby Aviation, Inc. (NYSE:JOBY) by 66.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,450 shares of the company’s stock after acquiring an additional 50,505 shares during the quarter. ProShare Advisors LLC’s holdings in Joby Aviation were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in JOBY. Uber Technologies Inc acquired a new position in Joby Aviation in the fourth quarter valued at $207,842,000. Vanguard Group Inc. increased its stake in Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after purchasing an additional 3,272,597 shares during the last quarter. Baillie Gifford & Co. increased its stake in Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in Joby Aviation by 774.7% in the fourth quarter. Fred Alger Management LLC now owns 1,079,065 shares of the company’s stock valued at $8,773,000 after purchasing an additional 955,697 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Monday, May 5th. Canaccord Genuity Group upped their price target on Joby Aviation from $11.50 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.67.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares of the company’s stock, valued at $396,594,255.84. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bonny W. Simi sold 9,695 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the sale, the insider now directly owns 146,941 shares of the company’s stock, valued at $996,259.98. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 753,766 shares of company stock valued at $4,659,968 over the last quarter. Company insiders own 28.50% of the company’s stock.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $6.64 on Friday. The firm has a market capitalization of $5.23 billion, a PE ratio of -9.49 and a beta of 2.34. The business has a 50-day moving average of $6.33 and a two-hundred day moving average of $7.16. Joby Aviation, Inc. has a 12 month low of $4.66 and a 12 month high of $10.72.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.