SG Americas Securities LLC Cuts Stock Position in Joby Aviation, Inc. (NYSE:JOBY)

SG Americas Securities LLC cut its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 28.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,582 shares of the company's stock after selling 54,877 shares during the quarter. SG Americas Securities LLC's holdings in Joby Aviation were worth $840,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after purchasing an additional 5,015 shares during the last quarter. Whittier Trust Co. purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $38,000. Toronto Dominion Bank purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $41,000. Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation in the fourth quarter valued at approximately $41,000. Finally, Allworth Financial LP lifted its holdings in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock valued at $44,000 after acquiring an additional 3,320 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 4,683 shares of Joby Aviation stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.90, for a total transaction of $41,678.70. Following the completion of the transaction, the insider now directly owns 79,654 shares of the company's stock, valued at approximately $708,920.60. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the completion of the acquisition, the director now 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. In the last ninety days, insiders have sold 755,633 shares of company stock worth $4,682,298. 28.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JOBY. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald cut Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 target price for the company. in a report on Thursday, June 12th. Canaccord Genuity Group reiterated a "buy" rating and set a $12.00 price target on shares of Joby Aviation in a report on Wednesday, June 4th. Morgan Stanley reiterated an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of "Hold" and an average target price of $9.33.

Joby Aviation Stock Performance

JOBY opened at $8.83 on Friday. Joby Aviation, Inc. has a one year low of $4.66 and a one year high of $10.72. The company has a market cap of $6.99 billion, a P/E ratio of -10.51 and a beta of 2.39. The business's 50-day simple moving average is $7.20 and its 200-day simple moving average is $7.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same quarter in the prior year, the firm posted ($0.14) EPS. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

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.

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