US Bancorp DE Sells 20,552 Shares of Joby Aviation, Inc. (NYSE:JOBY)

US Bancorp DE lessened its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 52.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,457 shares of the company’s stock after selling 20,552 shares during the period. US Bancorp DE’s holdings in Joby Aviation were worth $93,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Modera Wealth Management LLC raised its holdings in Joby Aviation by 46.9% during the 3rd quarter. Modera Wealth Management LLC now owns 23,500 shares of the company’s stock worth $118,000 after buying an additional 7,500 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after acquiring an additional 9,188 shares during the period. Private Advisor Group LLC lifted its position in Joby Aviation by 45.3% in the 3rd quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock valued at $174,000 after acquiring an additional 10,765 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Joby Aviation by 97.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,062 shares of the company’s stock worth $111,000 after purchasing an additional 10,889 shares during the period. Finally, Creative Planning increased its holdings in Joby Aviation by 86.2% during the 3rd quarter. Creative Planning now owns 55,446 shares of the company’s stock worth $279,000 after purchasing an additional 25,672 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

NYSE:JOBY opened at $5.73 on Friday. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $7.69. The company has a market cap of $4.10 billion, a P/E ratio of -8.19 and a beta of 1.97. The stock’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.34.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same period last year, the firm earned ($0.13) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. The trade was a 59.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th.

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.