GAMMA Investing LLC Buys 33,443 Shares of Joby Aviation, Inc. (NYSE:JOBY)

GAMMA Investing LLC grew its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 5,161.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,091 shares of the company's stock after purchasing an additional 33,443 shares during the quarter. GAMMA Investing LLC's holdings in Joby Aviation were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Toyota Motor Corp bought a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $640,259,000. Vanguard Group Inc. boosted 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 last quarter. Uber Technologies Inc bought a new stake in Joby Aviation in the 4th quarter worth about $207,842,000. Geode Capital Management LLC grew its position 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 during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after acquiring an additional 3,272,597 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Down 3.5%

Shares of Joby Aviation stock opened at $8.54 on Monday. The firm has a market cap of $6.76 billion, a PE ratio of -10.16 and a beta of 2.39. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72. The business has a 50-day moving average price of $7.25 and a 200 day moving average price of $7.38.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS 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 quarter in the previous year, the company earned ($0.14) earnings per share. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 166,667 shares of the company's 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 directly owns 58,328,061 shares of the company's stock, valued at $334,219,789.53. This represents a 0.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 4,683 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.90, for a total transaction of $41,678.70. Following the completion of the transaction, the insider now directly owns 79,654 shares of the company's stock, valued at $708,920.60. This represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 579,271 shares of company stock valued at $3,486,563. 32.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $13.00 target price (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. Cantor Fitzgerald downgraded Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 target price on the stock. in a research report on Thursday, June 12th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.