Exchange Traded Concepts LLC Decreases Position in Joby Aviation, Inc. (NYSE:JOBY)

Exchange Traded Concepts LLC lessened its position in Joby Aviation, Inc. (NYSE:JOBY) by 44.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313,197 shares of the company’s stock after selling 1,060,864 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Joby Aviation were worth $10,676,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JOBY. Geode Capital Management LLC boosted its stake in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares during the last quarter. State Street Corp boosted its holdings in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the period. Holocene Advisors LP increased its holdings in shares of Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after buying an additional 249,375 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Joby Aviation by 15.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock valued at $1,342,000 after buying an additional 34,866 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Joby Aviation news, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the sale, the insider now owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the sale, the director now directly owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 672,338 shares of company stock worth $5,864,050 in the last ninety days. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Trading Up 2.5 %

JOBY opened at $8.89 on Friday. The stock’s 50-day moving average price is $8.09 and its 200 day moving average price is $6.39. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -12.54 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter last year, the company earned ($0.13) earnings per share. On average, research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on JOBY. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group boosted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Needham & Company LLC boosted their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average price target of $9.30.

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.