Voya Investment Management LLC Cuts Position in Joby Aviation, Inc. $JOBY

Key Points

• Voya Investment Management LLC reduced its stake in Joby Aviation by 14.0%, selling 136,540 shares and owning approximately 0.11% of the company worth $5,044,000 by the end of the first quarter.
• Insiders have sold over 2.9 million shares of Joby Aviation stock valued at $36,091,772 in the last 90 days, indicating significant insider trading activity.
• Joby Aviation's stock has a market cap of $12.54 billion and reported a negative EPS of ($0.24) last quarter, missing analysts' estimates.

Voya Investment Management LLC cut its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 837,812 shares of the company's stock after selling 136,540 shares during the quarter. Voya Investment Management LLC owned 0.11% of Joby Aviation worth $5,044,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Toronto Dominion Bank acquired a new stake in Joby Aviation during the 4th quarter valued at $41,000. Carolinas Wealth Consulting LLC bought a new position in Joby Aviation during the 4th quarter worth $41,000. GAMMA Investing LLC boosted its position in shares of Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the period. Strs Ohio bought a new position in Joby Aviation during the first quarter worth about $37,000. Finally, Decker Retirement Planning Inc. grew its position in Joby Aviation by 250.0% during the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock worth $42,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Canaccord Genuity Group downgraded shares of Joby Aviation from a "buy" rating to a "hold" rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen cut shares of Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Finally, HC Wainwright lowered Joby Aviation from a "buy" rating to a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of "Hold" and a consensus target price of $10.50.

Joby Aviation Trading Up 13.4%

JOBY stock traded up $1.96 during trading on Friday, reaching $16.59. 62,054,936 shares of the stock were exchanged, compared to its average volume of 35,123,140. Joby Aviation, Inc. has a twelve month low of $4.78 and a twelve month high of $20.95. The firm's 50 day moving average is $15.70 and its 200 day moving average is $10.25. The firm has a market cap of $14.20 billion, a P/E ratio of -15.50 and a beta of 2.50.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%.Joby Aviation's revenue for the quarter was down 94.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 472,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $9.82, for a total transaction of $4,635,040.00. Following the completion of the sale, the chief executive officer directly owned 360,999 shares of the company's stock, valued at approximately $3,545,010.18. This trade represents a 56.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Allison sold 27,538 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86. Following the completion of the transaction, the insider owned 660,076 shares in the company, valued at approximately $7,901,109.72. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,947,597 shares of company stock valued at $36,091,772 over the last three months. 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.