Deutsche Bank AG Has $1.97 Million Stock Holdings in Joby Aviation, Inc. $JOBY

Key Points

• Deutsche Bank AG reduced its stake in Joby Aviation, selling 24,380 shares and now holding 326,404 shares, valued at approximately $1,965,000.
• Joby Aviation's recent earnings report showed a loss of $0.24 per share, missing expectations and marking a 94.6% decline in revenue year-over-year.
• Recent analyst ratings indicate a consensus rating of "Hold" for Joby Aviation, with an average target price of $10.50.

Deutsche Bank AG cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,404 shares of the company's stock after selling 24,380 shares during the quarter. Deutsche Bank AG's holdings in Joby Aviation were worth $1,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of JOBY. Toyota Motor Corp acquired a new stake in shares of Joby Aviation in the fourth quarter worth $640,259,000. Uber Technologies Inc acquired a new stake in shares of Joby Aviation in the fourth quarter worth $207,842,000. Nuveen Asset Management LLC boosted its position in shares of Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock worth $34,634,000 after buying an additional 3,272,597 shares during the period. Rheos Capital Works Inc. boosted its position in shares of Joby Aviation by 89.4% in the first quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock worth $27,421,000 after buying an additional 2,150,000 shares during the period. Finally, Fred Alger Management LLC boosted its position in shares of Joby Aviation by 774.7% in the fourth quarter. Fred Alger Management LLC now owns 1,079,065 shares of the company's stock worth $8,773,000 after buying an additional 955,697 shares during the period. Institutional investors and hedge funds own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JOBY shares. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and lifted their price objective for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. HC Wainwright lowered Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.50.

Insider Buying and Selling

In related news, insider Eric Allison sold 27,538 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $11.97, for a total transaction of $329,629.86. Following the sale, the insider owned 660,076 shares of the company's stock, valued at approximately $7,901,109.72. This trade represents a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bonny W. Simi sold 300,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $10.79, for a total value of $3,237,000.00. Following the sale, the insider directly owned 203,588 shares in the company, valued at $2,196,714.52. The trade was a 59.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,933,156 shares of company stock worth $21,528,877 over the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Stock Down 3.2%

NYSE:JOBY traded down $0.4730 during trading hours on Monday, hitting $14.4770. 2,489,807 shares of the stock were exchanged, compared to its average volume of 21,124,604. The company's 50 day moving average is $14.05 and its two-hundred day moving average is $9.34. The company has a market capitalization of $12.39 billion, a P/E ratio of -13.55 and a beta of 2.52. Joby Aviation, Inc. has a twelve month low of $4.70 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period last year, the company earned ($0.18) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current 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.