Lingotto Investment Management LLP Has $41.43 Million Stock Position in Joby Aviation, Inc. $JOBY

Key Points

• Lingotto Investment Management LLP increased its Joby Aviation stake by 34.2% in the fourth quarter, owning 3.14 million shares worth about $41.4 million. The stock now represents 0.7% of Lingotto’s portfolio and its 20th-largest holding.
• Institutional ownership in Joby remains significant, with hedge funds and other institutions holding 52.85% of the company’s shares. Several smaller investors also added positions during recent quarters.
• Wall Street sentiment is mixed to cautious: analysts currently give Joby an average rating of “Reduce” with a consensus price target of $13.06, while the company recently beat earnings and revenue estimates but continues to post losses.

Lingotto Investment Management LLP boosted its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,138,240 shares of the company's stock after buying an additional 799,260 shares during the period. Joby Aviation makes up 0.7% of Lingotto Investment Management LLP's portfolio, making the stock its 20th largest holding. Lingotto Investment Management LLP owned 0.34% of Joby Aviation worth $41,425,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp raised its stake in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock worth $26,000 after purchasing an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after purchasing an additional 1,880 shares in the last quarter. Strategic Advocates LLC acquired a new stake in Joby Aviation in the 3rd quarter worth about $29,000. Pandora Wealth Inc. acquired a new stake in Joby Aviation in the 4th quarter worth about $32,000. Finally, Ancora Advisors LLC acquired a new stake in Joby Aviation in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JOBY. Morgan Stanley dropped their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Weiss Ratings cut shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, February 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Joby Aviation presently has an average rating of "Reduce" and a consensus target price of $13.06.

Insider Buying and Selling

In related news, insider Kate Dehoff sold 14,295 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $8.73, for a total transaction of $124,795.35. Following the completion of the transaction, the insider directly owned 163,567 shares in the company, valued at $1,427,939.91. This represents a 8.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Allison sold 74,844 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00. Following the transaction, the insider owned 676,008 shares of the company's stock, valued at approximately $6,760,080. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,505,784 shares of company stock worth $15,457,801. 32.40% of the stock is owned by company insiders.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $11.99 on Tuesday. The firm has a 50 day moving average of $9.54 and a 200-day moving average of $11.60. The stock has a market capitalization of $11.80 billion, a PE ratio of -10.43 and a beta of 2.66. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. Joby Aviation, Inc. has a 12 month low of $7.34 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to analysts' expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the previous year, the company earned ($0.11) EPS. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.

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