27,850 Shares in Joby Aviation, Inc. (NYSE:JOBY) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,850 shares of the company's stock, valued at approximately $168,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in JOBY. NewEdge Advisors LLC boosted its holdings in Joby Aviation by 9.9% in the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock worth $175,000 after buying an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC boosted its holdings in Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company's stock worth $543,000 after buying an additional 2,000 shares during the period. California State Teachers Retirement System boosted its holdings in Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock worth $1,512,000 after buying an additional 2,065 shares during the period. Covestor Ltd boosted its holdings in Joby Aviation by 195.8% in the 4th quarter. Covestor Ltd now owns 6,022 shares of the company's stock worth $50,000 after buying an additional 3,986 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Joby Aviation by 130.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 7,060 shares of the company's stock worth $57,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Stock Up 0.4%

JOBY opened at $17.79 on Monday. The firm has a 50 day moving average price of $9.40 and a 200-day moving average price of $7.87. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of -21.18 and a beta of 2.47. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $18.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same period in the previous year, the firm earned ($0.14) earnings per share. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on JOBY. Canaccord Genuity Group restated a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Morgan Stanley restated an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. Wall Street Zen upgraded shares of Joby Aviation from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, HC Wainwright restated a "buy" rating and set a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $9.33.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 20,823 shares of Joby Aviation stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the sale, the insider directly owned 202,276 shares in the company, valued at $2,765,112.92. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total transaction of $52,448.56. Following the completion of the sale, the insider owned 84,953 shares of the company's stock, valued at $873,316.84. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,867,653 shares of company stock valued at $19,256,442. 32.40% of the stock is currently owned by company 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.

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