ARK Investment Management LLC Has $20.73 Million Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Key Points

• ARK Investment Management increased its holdings in Joby Aviation by 1.6% during Q1, owning 3,442,843 shares valued at approximately $20.73 million by the end of the reporting period.
• Joby Aviation reported a quarterly earnings per share of ($0.11), surpassing estimates of ($0.18), and has a negative net margin of 447,083.78%.
• Insider transactions indicate selling activity, with insiders offloading a total of approximately $19.26 million worth of shares in the last quarter, decreasing insider ownership to 28.50%.

ARK Investment Management LLC raised its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,442,843 shares of the company's stock after buying an additional 54,052 shares during the quarter. ARK Investment Management LLC owned 0.44% of Joby Aviation worth $20,726,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the period. Toronto Dominion Bank acquired a new position in Joby Aviation in the 4th quarter valued at approximately $41,000. Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation in the 4th quarter valued at approximately $41,000. Decker Retirement Planning Inc. increased its stake in Joby Aviation by 250.0% in the 1st quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock valued at $42,000 after buying an additional 5,000 shares during the period. Finally, Hollencrest Capital Management acquired a new position in Joby Aviation in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Trading Up 3.3%

NYSE JOBY opened at $18.09 on Friday. The company has a fifty day simple moving average of $10.41 and a 200 day simple moving average of $8.15. The company has a market cap of $14.32 billion, a P/E ratio of -21.54 and a beta of 2.47. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $18.55.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted ($0.14) earnings per share. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 500,001 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.38, for a total value of $6,190,012.38. Following the completion of the sale, the director directly owned 57,328,059 shares of the company's stock, valued at $709,721,370.42. This represents a 0.86% decrease in their position. The sale 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 the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the completion of the sale, the insider directly owned 84,953 shares of the company's stock, valued at approximately $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. Insiders sold 1,867,653 shares of company stock worth $19,256,442 in the last quarter. 28.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.

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