DNB Asset Management AS Buys 51,344 Shares of Joby Aviation, Inc. $JOBY

Key Points

• DNB Asset Management AS increased its stake in Joby Aviation by 16.3% in the fourth quarter, buying 51,344 additional shares and bringing its total holdings to 366,281 shares valued at about $4.84 million.
• Wall Street sentiment on JOBY remains cautious: the stock has an average "Reduce" rating, with analysts’ target prices ranging widely and recent cuts from JPMorgan and Morgan Stanley.
• Joby Aviation reported a narrower-than-expected quarterly loss, posting EPS of -$0.12 versus the -$0.21 consensus, while revenue of $24.25 million also topped estimates.

DNB Asset Management AS raised its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,281 shares of the company's stock after acquiring an additional 51,344 shares during the quarter. DNB Asset Management AS's holdings in Joby Aviation were worth $4,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp boosted its position in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock valued at $26,000 after acquiring an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after acquiring an additional 1,880 shares in the last quarter. Strategic Advocates LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $29,000. Pandora Wealth Inc. bought a new stake in Joby Aviation during the 4th quarter valued at $32,000. Finally, Ancora Advisors LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $35,000. Institutional investors own 52.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on JOBY. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research report on Thursday, February 26th. Oppenheimer set a $18.00 target price on Joby Aviation in a research report on Thursday, February 26th. 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 research report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Finally, Weiss Ratings lowered Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $13.06.

Joby Aviation Stock Performance

Shares of JOBY opened at $10.03 on Wednesday. Joby Aviation, Inc. has a 12 month low of $6.42 and a 12 month high of $20.95. The stock has a fifty day moving average price of $9.29 and a 200-day moving average price of $11.88. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The firm has a market cap of $9.86 billion, a PE ratio of -8.72 and a beta of 2.61.

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

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 12,965 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.15, for a total value of $105,664.75. Following the completion of the transaction, the insider owned 147,678 shares in the company, valued at $1,203,575.70. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Allison sold 74,844 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the transaction, the insider owned 676,008 shares of the company's stock, valued at $6,760,080. This trade represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,096,111 shares of company stock worth $10,504,153 over the last three months. Corporate 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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