Wealthfront Advisers LLC Buys 21,602 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Wealthfront Advisers LLC raised its holdings in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 63.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,612 shares of the company's stock after purchasing an additional 21,602 shares during the quarter. Wealthfront Advisers LLC's holdings in Joby Aviation were worth $335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JOBY. Toyota Motor Corp acquired a new position in shares of Joby Aviation during the 4th quarter worth about $640,259,000. Vanguard Group Inc. lifted its holdings in shares of Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after buying an additional 6,388,232 shares during the period. Uber Technologies Inc acquired a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $207,842,000. Geode Capital Management LLC increased its stake in Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock valued at $83,015,000 after purchasing an additional 817,638 shares in the last quarter. Finally, Rheos Capital Works Inc. lifted its position in shares of Joby Aviation by 89.4% in the first quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock valued at $27,421,000 after acquiring an additional 2,150,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Analyst Ratings Changes

JOBY has been the topic of several analyst reports. HC Wainwright restated a "buy" rating and set a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. Wall Street Zen raised Joby Aviation from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $12.00 target price on shares of Joby Aviation in a research report on Wednesday, June 4th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.33.

Joby Aviation Price Performance

JOBY stock traded down $0.04 on Thursday, reaching $17.55. The company's stock had a trading volume of 23,578,014 shares, compared to its average volume of 19,436,953. The company has a market capitalization of $13.89 billion, a P/E ratio of -20.85 and a beta of 2.47. Joby Aviation, Inc. has a 52 week low of $4.66 and a 52 week high of $18.55. The firm has a fifty day moving average of $9.99 and a two-hundred day moving average of $8.05.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced 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 net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter in the prior year, the company posted ($0.14) EPS. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 27,538 shares of the company'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 sale, the insider directly owned 660,076 shares in the company, valued at $7,901,109.72. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory Bowles sold 7,961 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $81,839.08. Following the sale, the insider owned 153,280 shares of the company's stock, valued at $1,575,718.40. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,867,653 shares of company stock worth $19,256,442. 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.