Ameriprise Financial Inc. Makes New $498,000 Investment in Joby Aviation, Inc. (NYSE:JOBY)

Ameriprise Financial Inc. bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 61,218 shares of the company's stock, valued at approximately $498,000.

Several other large investors also recently modified their holdings of JOBY. Entropy Technologies LP purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $300,000. Raymond James Financial Inc. purchased a new stake in Joby Aviation in the fourth quarter worth about $2,168,000. Charles Schwab Investment Management Inc. boosted its position in Joby Aviation by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock valued at $31,661,000 after acquiring an additional 361,520 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Joby Aviation during the 4th quarter worth approximately $311,000. Finally, Kingsview Wealth Management LLC raised its position in shares of Joby Aviation by 380.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 74,006 shares of the company's stock worth $602,000 after acquiring an additional 58,607 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.59 during midday trading on Friday, reaching $8.15. 27,965,322 shares of the company's stock traded hands, compared to its average volume of 13,138,637. Joby Aviation, Inc. has a one year low of $4.66 and a one year high of $10.72. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -11.64 and a beta of 2.39. The stock has a 50 day moving average of $6.57 and a 200 day moving average of $7.30.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business posted ($0.14) earnings per share. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 9,695 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares of the company's stock, valued at $996,259.98. This represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Motor Corp/ Toyota acquired 49,701,790 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the transaction, the director now owns 122,573,621 shares in the company, valued at approximately $616,545,313.63. This trade represents a 68.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 750,950 shares of company stock worth $4,640,619 over the last three months. 28.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Canaccord Genuity Group reissued a "buy" rating and set a $12.00 price target on shares of Joby Aviation in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Monday, May 5th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $8.67.

Joby Aviation Company 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.