Rhumbline Advisers Purchases 32,324 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Rhumbline Advisers grew its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 626,743 shares of the company's stock after purchasing an additional 32,324 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Joby Aviation worth $3,773,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Toyota Motor Corp bought a new position in shares of Joby Aviation during the 4th quarter worth $640,259,000. Uber Technologies Inc bought a new stake in shares of Joby Aviation during the 4th quarter valued at about $207,842,000. Vanguard Group Inc. boosted its position 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 valued at $380,163,000 after acquiring an additional 6,388,232 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Joby Aviation by 331.4% during the 4th 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, Baillie Gifford & Co. raised its holdings 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 valued at $447,412,000 after buying an additional 2,281,161 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $5.73, for a total value of $955,001.91. Following the completion of the transaction, the director now owns 58,328,061 shares in the company, valued at $334,219,789.53. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $5.03 per share, with a total value of $250,000,003.70. Following the purchase, the director now directly owns 122,573,621 shares of the company's stock, valued at approximately $616,545,313.63. The trade was a 68.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 750,950 shares of company stock valued at $4,640,619. 28.50% of the stock is currently owned by corporate insiders.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded down $0.27 during mid-day trading on Friday, hitting $8.60. 24,840,918 shares of the stock traded hands, compared to its average volume of 13,918,270. Joby Aviation, Inc. has a 52 week low of $4.66 and a 52 week high of $10.72. The company has a market cap of $6.81 billion, a price-to-earnings ratio of -12.28 and a beta of 2.39. The stock has a fifty day moving average price of $6.97 and a 200-day moving average price of $7.37.

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

Analyst Ratings Changes

JOBY has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group reissued a "buy" rating and set a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. HC Wainwright restated a "buy" rating and set a $13.00 price target (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald lowered Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 price target on the stock. in a research report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.33.

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.