50,000 Shares in Joby Aviation, Inc. (NYSE:JOBY) Bought by Moore Capital Management LP

Moore Capital Management LP purchased a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 50,000 shares of the company's stock, valued at approximately $406,000.

Several other institutional investors have also recently made changes to their positions in the stock. Rheos Capital Works Inc. increased its position in shares of Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock worth $19,553,000 after acquiring an additional 350,000 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Joby Aviation in the fourth quarter worth approximately $418,000. Entropy Technologies LP bought a new position in shares of Joby Aviation in the fourth quarter valued at approximately $300,000. Raymond James Financial Inc. purchased a new position in shares of Joby Aviation during the fourth quarter valued at approximately $2,168,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Joby Aviation by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after buying an additional 361,520 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 166,667 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 transaction of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. The trade was a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 101,652 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $6.66, for a total transaction of $677,002.32. Following the completion of the transaction, the chief executive officer now owns 60,526,762 shares of the company's stock, valued at $403,108,234.92. This trade represents a 0.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 753,766 shares of company stock worth $4,659,968 in the last three months. 28.50% of the stock is currently owned by corporate insiders.

Joby Aviation Price Performance

NYSE:JOBY traded up $0.23 on Friday, reaching $7.39. 18,287,630 shares of the company's stock were exchanged, compared to its average volume of 11,902,100. Joby Aviation, Inc. has a 52 week low of $4.66 and a 52 week high of $10.72. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -10.55 and a beta of 2.34. The stock has a fifty day simple moving average of $6.25 and a 200-day simple moving average of $7.09.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted ($0.14) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JOBY shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. 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. Morgan Stanley restated an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, HC Wainwright reissued a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

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.