Joby Aviation, Inc. (NYSE:JOBY) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its holdings in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 328,594 shares of the company's stock after acquiring an additional 76,055 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Joby Aviation were worth $2,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock worth $147,000 after purchasing an additional 3,522 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Joby Aviation during the 4th quarter worth approximately $142,000. Watts Gwilliam & Co. LLC acquired a new position in Joby Aviation during the fourth quarter worth approximately $154,000. Salem Investment Counselors Inc. lifted its stake in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. Finally, Hamilton Lane Advisors LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $418,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the sale, the insider now directly owns 202,276 shares of the company's stock, valued at $1,502,910.68. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joeben Bevirt sold 10,785 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the completion of the transaction, the chief executive officer now directly owns 793,036 shares of the company's stock, valued at approximately $5,892,257.48. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 668,827 shares of company stock worth $4,108,524. 32.40% of the stock is owned by insiders.

Joby Aviation Price Performance

JOBY traded up $0.23 during trading on Thursday, reaching $6.65. 15,650,658 shares of the stock were exchanged, compared to its average volume of 11,705,354. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of -9.49 and a beta of 2.34. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72. The business's 50 day moving average price is $6.20 and its two-hundred day moving average price is $7.04.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. 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 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the firm earned ($0.14) EPS. On average, analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.67.

Joby Aviation 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.