Joby Aviation, Inc. $JOBY Position Lifted by Clear Street Group Inc.

Clear Street Group Inc. raised its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 59.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,593,043 shares of the company’s stock after acquiring an additional 1,346,205 shares during the quarter. Clear Street Group Inc.’s holdings in Joby Aviation were worth $47,428,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC boosted its stake in Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after acquiring an additional 700 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after acquiring an additional 821 shares during the last quarter. Signaturefd LLC boosted its stake in Joby Aviation by 8.4% during the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock valued at $148,000 after acquiring an additional 872 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after acquiring an additional 1,188 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Trading Down 2.3%

Joby Aviation stock opened at $9.14 on Friday. The firm’s 50-day moving average is $9.80 and its 200-day moving average is $11.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. Joby Aviation, Inc. has a 1 year low of $7.75 and a 1 year high of $20.95. The company has a market cap of $8.99 billion, a P/E ratio of -7.95 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period last year, the firm posted ($0.11) EPS. On average, equities analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Rodrigo Brumana sold 78,489 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $11.30, for a total value of $886,925.70. Following the transaction, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This trade represents a 49.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the transaction, the insider owned 676,008 shares in the company, valued at approximately $6,760,080. The trade was a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,566,838 shares of company stock worth $16,167,306. Company insiders own 28.50% of the company’s stock.

Analyst Ratings Changes

JOBY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.06.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.