UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 444,860 shares of the company's stock after buying an additional 57,929 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.06% of Joby Aviation worth $3,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JOBY. Valueworks LLC grew its position in shares of Joby Aviation by 14.0% during the 4th quarter. Valueworks LLC now owns 2,340,170 shares of the company's stock worth $19,026,000 after buying an additional 288,140 shares during the period. Toyota Motor Corp bought a new stake in Joby Aviation during the 4th quarter valued at $640,259,000. Toronto Dominion Bank acquired a new position in shares of Joby Aviation during the fourth quarter valued at about $41,000. Shay Capital LLC acquired a new position in Joby Aviation during the 4th quarter valued at about $373,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Joby Aviation by 66.5% in the fourth quarter. ProShare Advisors LLC now owns 126,450 shares of the company's stock valued at $1,028,000 after purchasing an additional 50,505 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on JOBY shares. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, April 30th. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday. Morgan Stanley restated 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 reaffirmed an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.67.

Joby Aviation Stock Up 7.8%

Joby Aviation stock traded up $0.59 during trading on Friday, hitting $8.15. The stock had a trading volume of 28,095,583 shares, compared to its average volume of 13,139,244. The stock's 50 day moving average is $6.57 and its two-hundred day moving average is $7.30. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -11.64 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 last year, the firm earned ($0.14) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, Director Motor Corp/ Toyota purchased 49,701,790 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was purchased 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 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the transaction, the insider now owns 146,941 shares of the company's stock, valued at approximately $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. In the last three months, insiders have sold 750,950 shares of company stock worth $4,640,619. Company 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.