Marex Group plc Makes New $549,000 Investment in Joby Aviation, Inc. $JOBY

Marex Group plc bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 52,061 shares of the company’s stock, valued at approximately $549,000.

Other hedge funds have also made changes to their positions in the company. Toyota Motor Corp raised its holdings in Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares in the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after acquiring an additional 573,328 shares in the last quarter. State Street Corp increased its position in shares of Joby Aviation by 3.0% in the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company’s stock worth $109,636,000 after purchasing an additional 305,109 shares during the last quarter. Rheos Capital Works Inc. raised its stake in shares of Joby Aviation by 58.2% in the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after purchasing an additional 2,650,000 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Joby Aviation by 1.9% during the second quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after purchasing an additional 64,562 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. The Goldman Sachs Group assumed coverage on Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $13.43.

Insider Buying and Selling

In related news, insider Gregory Bowles sold 12,900 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $15.75, for a total value of $203,175.00. Following the completion of the transaction, the insider owned 153,280 shares of the company’s stock, valued at approximately $2,414,160. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 253,600 shares of Joby Aviation stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $16.29, for a total transaction of $4,131,144.00. Following the transaction, the chief executive officer owned 60,273,162 shares in the company, valued at approximately $981,849,808.98. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 648,814 shares of company stock valued at $10,607,650. Company insiders own 32.40% of the company’s stock.

Joby Aviation Trading Down 4.6%

Shares of NYSE JOBY opened at $14.85 on Monday. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95. The company has a market cap of $13.54 billion, a price-to-earnings ratio of -11.08 and a beta of 2.53. The stock’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $14.27.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. Joby Aviation’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

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.