Cookson Peirce & Co. Inc. Has $1.67 Million Position in Joby Aviation, Inc. $JOBY

Key Points

• Cookson Peirce & Co. increased its stake in Joby Aviation by 215.6% in the fourth quarter, ending with 126,246 shares valued at about $1.67 million.
• Joby Aviation reported a narrower-than-expected quarterly loss, posting ($0.12) EPS versus estimates of ($0.21), while revenue of $24.25 million also topped analyst forecasts.
• Sentiment on the stock remains mixed: analysts have a consensus rating of "Reduce" with an average price target of $13.06, while recent insider sales by the CEO and another executive added to investor focus.

Cookson Peirce & Co. Inc. lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 215.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,246 shares of the company's stock after buying an additional 86,246 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Joby Aviation were worth $1,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC boosted its position in shares of Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company's stock worth $442,000 after buying an additional 700 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company's stock worth $270,000 after buying an additional 736 shares during the period. Compagnie Lombard Odier SCmA boosted its position in shares of Joby Aviation by 15.3% during the third quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company's stock worth $93,000 after buying an additional 765 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock worth $403,000 after buying an additional 821 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Joby Aviation by 8.4% during the fourth quarter. Signaturefd LLC now owns 11,218 shares of the company's stock worth $148,000 after buying an additional 872 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

JOBY opened at $9.56 on Monday. Joby Aviation, Inc. has a 52-week low of $7.70 and a 52-week high of $20.95. The firm has a market capitalization of $9.40 billion, a PE ratio of -8.31 and a beta of 2.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The business's 50-day simple moving average is $9.69 and its 200 day simple moving average is $11.49.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the prior year, the company earned ($0.11) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating for the company in a research report on Thursday, February 26th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Wall Street Zen upgraded Joby Aviation from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Canaccord Genuity Group dropped their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their target price on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of "Reduce" and an average target price of $13.06.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 4,602 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $11.47, for a total value of $52,784.94. Following the sale, the insider owned 182,319 shares in the company, valued at $2,091,198.93. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 421,019 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the completion of the sale, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. This represents a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,505,784 shares of company stock valued at $15,457,801. Company insiders own 32.40% of the company's stock.

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.

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