D. E. Shaw & Co. Inc. Purchases New Shares in Joby Aviation, Inc. (NYSE:JOBY)

D. E. Shaw & Co. Inc. acquired a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 164,935 shares of the company's stock, valued at approximately $1,341,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Joby Aviation by 24.3% during the fourth quarter. SG Americas Securities LLC now owns 194,459 shares of the company's stock valued at $1,581,000 after buying an additional 37,956 shares during the period. GoalVest Advisory LLC purchased a new position in shares of Joby Aviation during the 4th quarter worth approximately $146,000. Sound Income Strategies LLC grew its holdings in shares of Joby Aviation by 111.3% during the 4th quarter. Sound Income Strategies LLC now owns 21,773 shares of the company's stock worth $177,000 after acquiring an additional 11,471 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Joby Aviation by 51.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 30,476 shares of the company's stock worth $248,000 after acquiring an additional 10,370 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Joby Aviation in the 4th quarter valued at approximately $110,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $5.73, for a total transaction of $955,001.91. Following the sale, the director now owns 58,328,061 shares in the company, valued at $334,219,789.53. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bonny W. Simi sold 9,695 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the sale, the insider now directly owns 146,941 shares of the company's stock, valued at $996,259.98. This trade represents a 6.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,766 shares of company stock valued at $4,659,968. Insiders own 28.50% of the company's stock.

Joby Aviation Trading Up 0.2%

Joby Aviation stock opened at $6.64 on Friday. Joby Aviation, Inc. has a 12 month low of $4.66 and a 12 month high of $10.72. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of -9.49 and a beta of 2.34. The business's fifty day simple moving average is $6.33 and its two-hundred day simple moving average is $7.16.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results 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 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the business posted ($0.14) EPS. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $11.50 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Joby Aviation has an average rating of "Moderate Buy" and a consensus price target of $8.67.

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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