Swiss National Bank Raises Stake in Joby Aviation, Inc. $JOBY

Key Points

• The Swiss National Bank increased its stake in Joby Aviation by 5.3%, acquiring a total of 370,600 shares worth approximately $2.23 million.
• Joby Aviation's stock price recently rose by 3.4%, trading at $14.94 despite reporting a disappointing earnings per share of ($0.24), missing estimates.
• Analysts have a mixed outlook on Joby Aviation, with ratings ranging from Buy to Sell, and an average price target of $10.50.

Swiss National Bank raised its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 370,600 shares of the company's stock after purchasing an additional 18,500 shares during the quarter. Swiss National Bank's holdings in Joby Aviation were worth $2,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank bought a new stake in Joby Aviation during the 4th quarter valued at about $41,000. Carolinas Wealth Consulting LLC bought a new stake in Joby Aviation during the 4th quarter valued at about $41,000. GAMMA Investing LLC increased its stake in Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after purchasing an additional 5,015 shares in the last quarter. Decker Retirement Planning Inc. increased its stake in Joby Aviation by 250.0% during the 1st quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Hollencrest Capital Management bought a new stake in Joby Aviation during the 1st quarter valued at about $43,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Trading Up 3.4%

NYSE JOBY traded up $0.4870 during trading hours on Friday, hitting $14.9370. 34,851,569 shares of the company's stock traded hands, compared to its average volume of 32,593,216. The business's fifty day moving average price is $14.05 and its two-hundred day moving average price is $9.33. The firm has a market capitalization of $12.79 billion, a P/E ratio of -13.96 and a beta of 2.52. Joby Aviation, Inc. has a 52 week low of $4.70 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 94.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 5,102 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the completion of the sale, the insider directly owned 84,953 shares in the company, valued at approximately $873,316.84. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Cahill Sciarra sold 500,001 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the sale, the director owned 57,328,059 shares of the company's stock, valued at $709,721,370.42. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,933,156 shares of company stock valued at $21,528,877 in the last three months. Corporate insiders own 28.50% of the company's stock.

Analysts Set New Price Targets

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

Joby Aviation Company Profile

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.