Nisa Investment Advisors LLC Boosts Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Nisa Investment Advisors LLC raised its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 685.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,315 shares of the company's stock after acquiring an additional 65,721 shares during the quarter. Nisa Investment Advisors LLC's holdings in Joby Aviation were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Toyota Motor Corp purchased a new position in Joby Aviation during the fourth quarter valued at $640,259,000. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 6,388,232 shares in the last quarter. Uber Technologies Inc bought a new position in shares of Joby Aviation during the 4th quarter valued at approximately $207,842,000. Geode Capital Management LLC increased 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 acquiring an additional 817,638 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its holdings in Joby Aviation by 89.4% in the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock worth $27,421,000 after acquiring an additional 2,150,000 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd. Wall Street Zen raised shares of Joby Aviation from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.33.

Joby Aviation Stock Up 0.4%

JOBY stock traded up $0.07 during mid-day trading on Friday, hitting $17.79. The company had a trading volume of 59,831,205 shares, compared to its average volume of 16,244,136. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of -21.18 and a beta of 2.47. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $18.30. The company has a 50-day moving average price of $9.18 and a 200 day moving average price of $7.81.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 472,000 shares of Joby Aviation stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $9.82, for a total value of $4,635,040.00. Following the completion of the transaction, the chief executive officer owned 360,999 shares in the company, valued at approximately $3,545,010.18. This trade represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bonny W. Simi sold 300,000 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,034,320 shares of company stock valued at $20,211,444 in the last 90 days. Company insiders own 28.50% of the company's stock.

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.