UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 437,638 Shares of Joby Aviation, Inc. $JOBY

Key Points

• UBS Asset Management sharply reduced its Joby Aviation position, selling 437,638 shares, or 98.7% of its holdings, during the second quarter. Institutional investors collectively own 52.85% of JOBY.
• Analyst sentiment remains cautious: Joby has an average “Reduce” rating and a consensus price target of $13.81, with ratings split among Buy, Hold, and Sell recommendations.
• Joby is advancing eVTOL demonstrations and air-taxi preparations in Texas and Dubai, but it remains unprofitable and has not yet secured full FAA certification. Shares opened at $6.38, near the company’s one-year low of $6.24.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 98.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,629 shares of the company's stock after selling 437,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Joby Aviation were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JOBY. Royal Bank of Canada raised its stake in shares of Joby Aviation by 110.5% during the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company's stock worth $512,000 after acquiring an additional 44,659 shares in the last quarter. AQR Capital Management LLC purchased a new position in Joby Aviation in the first quarter worth $273,000. Strs Ohio purchased a new position in Joby Aviation in the first quarter worth $37,000. Cetera Investment Advisers increased its position in shares of Joby Aviation by 16.0% during the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company's stock worth $676,000 after purchasing an additional 8,840 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Joby Aviation by 80.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company's stock valued at $7,920,000 after purchasing an additional 333,995 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of recent analyst reports. Wall Street Zen cut Joby Aviation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Needham & Company LLC reduced their target price on Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Susquehanna set a $18.00 price target on Joby Aviation in a research note on Thursday, August 6th. Barclays raised Joby Aviation to a "hold" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $13.81.

Joby Aviation News Roundup

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby has begun FAA-backed eVTOL demonstration and air-taxi flights in Texas under the agency’s eIPP program. The tests are an important step toward commercial operations and could support the company’s certification timeline. Joby Begins eVTOL Demo Flights In Texas Under FAA’s eIPP
• Positive Sentiment: Joby launched a month-long, 10-state demonstration tour for its autonomous J208 aircraft. The tour is intended to showcase the technology’s readiness for real-world use and broaden public and investor awareness. Joby Aviation Begins Autonomous Cross-Country Tour
• Positive Sentiment: The company is preparing for commercial flights in Dubai, while its Blade air-mobility business reportedly doubled seats sold year over year and experienced demand exceeding available aircraft capacity. These developments offer evidence of potential demand beyond the aircraft program. Is Joby Aviation a Buy Now?
• Neutral Sentiment: Joby filed a prospectus supplement enabling Strata Critical to resell approximately 2.42 million shares, or about 0.24% of outstanding stock. Joby will not receive proceeds, making the immediate financial impact limited, though the filing may add trading attention and a modest supply overhang. Joby Aviation Enables Resale of Milestone-Based Equity
• Negative Sentiment: Despite the Texas and Dubai milestones, Joby continues to lose substantial amounts of money and has yet to secure full FAA certification. Jim Cramer reiterated that he would not invest because of the company’s losses, reinforcing skepticism toward the speculative stock. Jim Cramer on Joby Aviation

Joby Aviation Stock Performance

Shares of JOBY opened at $6.38 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The stock has a 50-day moving average of $7.48 and a two-hundred day moving average of $8.85. The stock has a market cap of $6.32 billion, a P/E ratio of -6.45 and a beta of 2.68. Joby Aviation, Inc. has a one year low of $6.24 and a one year high of $19.98.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to analysts' expectations of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company's revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) earnings per share. As a group, research analysts predict that Joby Aviation, Inc. will post -1 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, CFO Rodrigo Brumana sold 8,898 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $6.89, for a total transaction of $61,307.22. Following the completion of the transaction, the chief financial officer owned 110,831 shares of the company's stock, valued at $763,625.59. This trade represents a 7.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Sciarra sold 62,500 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.68, for a total transaction of $417,500.00. Following the transaction, the director owned 55,703,057 shares of the company's stock, valued at $372,096,420.76. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 300,310 shares of company stock worth $2,300,472. Corporate insiders own 20.35% of the company's stock.

Joby Aviation Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.

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