Bank of New York Mellon Corp Grows Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Bank of New York Mellon Corp grew its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,348,491 shares of the company's stock after purchasing an additional 69,464 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.17% of Joby Aviation worth $8,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 5,015 shares in the last quarter. Whittier Trust Co. purchased a new stake in Joby Aviation in the fourth quarter valued at $38,000. Toronto Dominion Bank purchased a new stake in Joby Aviation in the fourth quarter valued at $41,000. Carolinas Wealth Consulting LLC purchased a new stake in Joby Aviation in the fourth quarter valued at $41,000. Finally, Decker Retirement Planning Inc. lifted its position in Joby Aviation by 250.0% in the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock valued at $42,000 after acquiring an additional 5,000 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Joby Aviation from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HC Wainwright reissued a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, Morgan Stanley restated an "equal weight" rating and issued a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.33.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the transaction, the director directly owned 57,328,059 shares in the company, valued at $709,721,370.42. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the purchase, the director owned 122,573,621 shares of the company's stock, 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. Over the last quarter, insiders sold 1,867,653 shares of company stock valued at $19,256,442. Insiders own 28.50% of the company's stock.

Joby Aviation Stock Performance

NYSE JOBY traded up $0.58 during trading on Friday, reaching $18.09. The company's stock had a trading volume of 35,595,847 shares, compared to its average volume of 40,343,720. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of -21.54 and a beta of 2.47. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $18.55. The business's fifty day moving average price is $10.41 and its 200-day moving average price is $8.15.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating 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 last year, the firm earned ($0.14) EPS. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.