Exchange Traded Concepts LLC Grows Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Exchange Traded Concepts LLC lifted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 31.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,724,888 shares of the company's stock after acquiring an additional 411,691 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.22% of Joby Aviation worth $10,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Toyota Motor Corp purchased a new position in shares of Joby Aviation in the fourth quarter valued at about $640,259,000. Baillie Gifford & Co. grew its position in shares of Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock worth $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. Vanguard Group Inc. raised its stake in Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the period. Uber Technologies Inc purchased a new position in Joby Aviation in the 4th quarter worth approximately $207,842,000. Finally, Geode Capital Management LLC lifted its holdings in Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock worth $83,015,000 after purchasing an additional 817,638 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value 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 represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 4,683 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.90, for a total transaction of $41,678.70. Following the completion of the sale, the insider now directly owns 79,654 shares of the company's stock, valued at approximately $708,920.60. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 755,633 shares of company stock valued at $4,682,298. 28.50% of the stock is currently owned by insiders.

Joby Aviation Trading Up 2.0%

Shares of JOBY stock traded up $0.18 on Thursday, reaching $8.83. The company's stock had a trading volume of 20,235,664 shares, compared to its average volume of 14,090,970. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -10.51 and a beta of 2.39. The stock's fifty day simple moving average is $7.14 and its 200-day simple moving average is $7.39. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping 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 in the prior year, the firm posted ($0.14) EPS. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

JOBY has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald downgraded shares of Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Thursday, June 12th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.33.

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.