Police & Firemen s Retirement System of New Jersey Increases Stake in Joby Aviation, Inc. $JOBY

Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 11.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 102,381 shares of the company’s stock after buying an additional 10,317 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Joby Aviation were worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of JOBY. Toyota Motor Corp increased its position in shares of Joby Aviation by 63.1% during the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after acquiring an additional 49,701,790 shares during the period. Geode Capital Management LLC boosted its holdings in Joby Aviation by 5.4% in the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after purchasing an additional 573,328 shares during the period. Rheos Capital Works Inc. grew its stake in Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after purchasing an additional 2,650,000 shares in the last quarter. ARK Investment Management LLC grew its stake in Joby Aviation by 1.9% during the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after purchasing an additional 64,562 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Joby Aviation during the 1st quarter worth about $18,936,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Price Performance

NYSE JOBY opened at $13.09 on Friday. The firm’s fifty day moving average price is $15.93 and its 200 day moving average price is $13.37. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of -9.77 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same period in the previous year, the company earned ($0.21) EPS. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. Finally, HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $14.00.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 52,907 shares of Joby Aviation stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $15.76, for a total transaction of $833,814.32. Following the transaction, the insider owned 149,369 shares of the company’s stock, valued at $2,354,055.44. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 15,439 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $259,066.42. Following the completion of the sale, the insider owned 103,206 shares of the company’s stock, valued at approximately $1,731,796.68. This represents a 13.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,654,022 shares of company stock worth $25,019,336 over the last ninety days. 28.50% of the stock is owned by corporate insiders.

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.