59,546 Shares in Joby Aviation, Inc. $JOBY Bought by Maven Securities LTD

Key Points

• Maven Securities LTD has acquired a new position in Joby Aviation, purchasing 59,546 shares valued at approximately $358,000 during the first quarter.
• In a recent quarter, Joby Aviation reported an EPS of ($0.24), missing the consensus estimate, with revenue down 94.6% year-over-year.
• Insiders at Joby Aviation have sold a total of 1,936,558 shares in the last ninety days, indicating significant insider selling activity.

Maven Securities LTD bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,546 shares of the company's stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toyota Motor Corp bought a new stake in Joby Aviation during the fourth quarter worth approximately $640,259,000. Uber Technologies Inc bought a new stake in Joby Aviation during the fourth quarter worth approximately $207,842,000. Rheos Capital Works Inc. raised its holdings in Joby Aviation by 89.4% during the first quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock worth $27,421,000 after purchasing an additional 2,150,000 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after buying an additional 3,272,597 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Joby Aviation by 19.5% in the fourth quarter. Northern Trust Corp now owns 4,115,380 shares of the company's stock valued at $33,458,000 after buying an additional 672,946 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Joby Aviation Price Performance

NYSE JOBY traded up $0.4870 on Friday, hitting $14.9370. 34,851,569 shares of the stock were exchanged, compared to its average volume of 32,593,216. Joby Aviation, Inc. has a 52-week low of $4.70 and a 52-week high of $20.95. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of -13.96 and a beta of 2.52. The company's 50-day moving average price is $14.05 and its two-hundred day moving average price is $9.32.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%.The firm had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The company's revenue for the quarter was down 94.6% on a year-over-year basis. Equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Kate Dehoff sold 20,823 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $13.67, for a total transaction of $284,650.41. Following the transaction, the insider directly owned 202,276 shares in the company, valued at $2,765,112.92. The trade was a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Cahill Sciarra sold 500,001 shares of the business's stock in a transaction 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 transaction, the director owned 57,328,059 shares in the company, valued at approximately $709,721,370.42. This represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,933,156 shares of company stock worth $21,528,877. 28.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

JOBY has been the topic of several research reports. Wall Street Zen cut Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and upped their price target for the company from $12.00 to $17.00 in a report on Thursday, August 7th. HC Wainwright cut Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. upped their price target on Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Joby Aviation presently has an average rating of "Hold" and a consensus price target of $10.50.

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.