Joby Aviation, Inc. (NYSE:JOBY) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 66.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 126,450 shares of the company's stock after purchasing an additional 50,505 shares during the quarter. ProShare Advisors LLC's holdings in Joby Aviation were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 15.8% in 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 purchased a new position in shares of Joby Aviation in the 4th quarter valued at approximately $207,842,000. Geode Capital Management LLC grew its stake in shares of Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock valued at $83,015,000 after purchasing an additional 817,638 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after purchasing an additional 3,272,597 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Bonny W. Simi sold 9,695 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the transaction, the insider now directly owns 146,941 shares of the company's stock, valued at $996,259.98. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 101,652 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $6.66, for a total value of $677,002.32. Following the completion of the transaction, the chief executive officer now directly owns 60,526,762 shares of the company's stock, valued at approximately $403,108,234.92. This trade represents a 0.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 753,766 shares of company stock worth $4,659,968. 28.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JOBY has been the topic of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, May 5th. Morgan Stanley restated an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group lifted their price target on Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Joby Aviation Stock Performance

JOBY opened at $6.64 on Friday. The business's fifty day moving average is $6.33 and its two-hundred day moving average is $7.16. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -9.49 and a beta of 2.34. Joby Aviation, Inc. has a one year low of $4.66 and a one 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) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.

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