Toyota Motor Corp Makes New $640.26 Million Investment in Joby Aviation, Inc. (NYSE:JOBY)

Toyota Motor Corp purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 78,752,611 shares of the company's stock, valued at approximately $640,259,000. Joby Aviation makes up about 21.7% of Toyota Motor Corp's holdings, making the stock its 3rd biggest position. Toyota Motor Corp owned about 10.29% of Joby Aviation as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JOBY. Rheos Capital Works Inc. grew its stake in shares of Joby Aviation by 17.0% in the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock worth $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $300,000. Raymond James Financial Inc. acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $2,168,000. Charles Schwab Investment Management Inc. grew its stake in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after purchasing an additional 361,520 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $311,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Price Performance

Joby Aviation stock opened at $7.39 on Monday. The firm's 50 day simple moving average is $6.28 and its 200-day simple moving average is $7.14. The company has a market cap of $5.82 billion, a P/E ratio of -10.55 and a beta of 2.34. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm earned ($0.14) EPS. On average, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Monday, May 5th. Canaccord Genuity Group lifted their target price on shares of Joby Aviation from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the transaction, the chief executive officer now directly owns 32,275,793 shares of the company's stock, valued at approximately $190,104,420.77. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares of the company's stock, valued at $996,259.98. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 753,766 shares of company stock valued at $4,659,968. Corporate insiders own 28.50% of the company's stock.

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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