Nuveen Asset Management LLC Boosts Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Nuveen Asset Management LLC increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 331.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,260,082 shares of the company's stock after buying an additional 3,272,597 shares during the quarter. Nuveen Asset Management LLC owned 0.56% of Joby Aviation worth $34,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of JOBY. Whittier Trust Co. bought a new stake in shares of Joby Aviation during the 4th quarter worth $38,000. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the fourth quarter valued at approximately $41,000. Golden State Wealth Management LLC bought a new position in Joby Aviation during the fourth quarter valued at $42,000. Allworth Financial LP increased its position in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Joby Aviation by 195.8% during the 4th quarter. Covestor Ltd now owns 6,022 shares of the company's stock valued at $50,000 after buying an additional 3,986 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, May 5th. Finally, HC Wainwright restated a "buy" rating and issued a $9.00 target price 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.com, Joby Aviation has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

Joby Aviation Stock Down 0.7%

Shares of Joby Aviation stock traded down $0.05 during trading on Friday, reaching $6.59. The company's stock had a trading volume of 5,038,222 shares, compared to its average volume of 12,007,531. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -9.42 and a beta of 2.34. The firm's 50-day moving average is $6.33 and its two-hundred day moving average is $7.16. Joby Aviation, Inc. has a 52-week low of $4.66 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced 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 net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the sale, the chief executive officer now directly owns 32,275,793 shares of the company's stock, valued at $190,104,420.77. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 166,667 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $5.73, for a total transaction of $955,001.91. Following the completion of the transaction, the director now owns 58,328,061 shares in the company, valued at approximately $334,219,789.53. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,766 shares of company stock worth $4,659,968. 28.50% of the stock is currently owned by corporate insiders.

Joby Aviation 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.