Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,214 shares of the company's stock after selling 105,295 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Joby Aviation worth $3,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Uber Technologies Inc purchased a new stake in Joby Aviation during the fourth quarter worth $207,842,000. Vanguard Group Inc. raised its stake 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 worth $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock worth $447,412,000 after acquiring an additional 2,281,161 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Joby Aviation by 774.7% during the 4th quarter. Fred Alger Management LLC now owns 1,079,065 shares of the company's stock worth $8,773,000 after acquiring an additional 955,697 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Joby Aviation by 8.7% during 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. Institutional investors own 52.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JOBY shares. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $11.50 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and an average target price of $8.67.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 9,720 shares of Joby Aviation stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $6.00, for a total transaction of $58,320.00. Following the transaction, the insider now directly owns 219,366 shares of the company's stock, valued at $1,316,196. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 753,766 shares of company stock valued at $4,659,968 in the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Joby Aviation Trading Down 0.7%

JOBY traded down $0.05 during midday trading on Tuesday, hitting $6.98. 9,063,006 shares of the company traded hands, compared to its average volume of 11,984,700. The business has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $7.15. Joby Aviation, Inc. has a 52-week low of $4.66 and a 52-week high of $10.72. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of -9.97 and a beta of 2.34.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the company earned ($0.14) EPS. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current 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.