Edgestream Partners L.P. Acquires Shares of 143,893 Joby Aviation, Inc. $JOBY

Edgestream Partners L.P. acquired a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 143,893 shares of the company’s stock, valued at approximately $1,189,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 2,645,200 shares in the last quarter. Vanguard Group Inc. grew its stake in Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares in the last quarter. Man Group plc bought a new stake in Joby Aviation in the third quarter valued at about $40,283,000. Norges Bank acquired a new stake in Joby Aviation during the fourth quarter valued at approximately $32,269,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Joby Aviation by 80.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock worth $44,672,000 after buying an additional 1,512,094 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

JOBY opened at $7.37 on Tuesday. The stock has a market cap of $7.25 billion, a PE ratio of -6.41 and a beta of 2.73. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $8.93 and its 200-day moving average is $9.75. Joby Aviation, Inc. has a twelve month low of $6.63 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period in the previous year, the firm earned ($0.11) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on JOBY shares. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Morgan Stanley dropped their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Joby Aviation currently has an average rating of “Reduce” and an average price target of $13.64.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 14,240 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total value of $110,075.20. Following the completion of the transaction, the insider owned 180,179 shares in the company, valued at $1,392,783.67. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joeben Bevirt sold 15,788 shares of Joby Aviation stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the completion of the transaction, the chief executive officer directly owned 239,671 shares in the company, valued at $2,137,865.32. This represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,125,580 shares of company stock valued at $12,172,117 over the last 90 days. 20.35% of the stock is owned by insiders.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.