Nuveen LLC Buys Shares of 3,145,506 Joby Aviation, Inc. $JOBY

Nuveen LLC bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,145,506 shares of the company's stock, valued at approximately $18,936,000. Nuveen LLC owned about 0.40% of Joby Aviation as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in Joby Aviation by 16.1% during the 1st quarter. Invesco Ltd. now owns 972,517 shares of the company's stock valued at $5,855,000 after buying an additional 134,982 shares during the last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Joby Aviation during the first quarter worth $78,000. Swiss National Bank boosted its holdings in shares of Joby Aviation by 5.3% during the first quarter. Swiss National Bank now owns 370,600 shares of the company's stock worth $2,231,000 after purchasing an additional 18,500 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Joby Aviation by 25.1% during the first quarter. Wealthspire Advisors LLC now owns 14,954 shares of the company's stock worth $90,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Joby Aviation during the first quarter worth $401,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Trading Down 7.6%

Shares of NYSE JOBY opened at $14.8460 on Wednesday. Joby Aviation, Inc. has a 12-month low of $4.70 and a 12-month high of $20.95. The company has a market cap of $12.71 billion, a P/E ratio of -13.87 and a beta of 2.52. The stock has a fifty day moving average price of $13.71 and a 200 day moving average price of $9.20.

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

Insider Activity at Joby Aviation

In other news, insider Eric Allison sold 27,538 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86. Following the transaction, the insider owned 660,076 shares of the company's stock, valued at approximately $7,901,109.72. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 500,001 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the transaction, the director directly owned 57,328,059 shares in the company, valued at $709,721,370.42. The trade was a 0.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,936,558 shares of company stock valued at $21,551,263. 32.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Joby Aviation Company 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.

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