Capital Fund Management S.A. acquired a new position in Joby Aviation, Inc. (NYSE:JOBY – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,427 shares of the company's stock, valued at approximately $863,000.
Several other hedge funds have also recently bought and sold shares of the business. Edge Capital Group LLC raised its position in shares of Joby Aviation by 28.5% in the first quarter. Edge Capital Group LLC now owns 23,098 shares of the company's stock valued at $153,000 after purchasing an additional 5,123 shares during the period. Victory Capital Management Inc. raised its holdings in Joby Aviation by 32.2% in the 4th quarter. Victory Capital Management Inc. now owns 26,354 shares of the company's stock worth $192,000 after acquiring an additional 6,425 shares during the period. Naviter Wealth LLC lifted its position in Joby Aviation by 64.9% during the 1st quarter. Naviter Wealth LLC now owns 18,143 shares of the company's stock worth $120,000 after acquiring an additional 7,143 shares during the last quarter. F3Logic LLC grew its position in shares of Joby Aviation by 22.4% in the first quarter. F3Logic LLC now owns 53,600 shares of the company's stock valued at $355,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Minot Wealth Management LLC bought a new position in shares of Joby Aviation in the first quarter worth about $66,000. 29.04% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several research firms have recently weighed in on JOBY. Deutsche Bank Aktiengesellschaft reduced their price objective on Joby Aviation from $8.00 to $7.00 in a research report on Tuesday, August 16th. Raymond James started coverage on shares of Joby Aviation in a report on Wednesday, July 27th. They issued a "market perform" rating for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Joby Aviation currently has a consensus rating of "Hold" and a consensus target price of $9.20.
Insider Transactions at Joby Aviation
In related news, insider Didier Papadopoulos sold 40,000 shares of the business's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total value of $220,000.00. Following the sale, the insider now owns 18,128 shares of the company's stock, valued at approximately $99,704. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Didier Papadopoulos sold 40,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.50, for a total transaction of $220,000.00. Following the completion of the sale, the insider now owns 18,128 shares in the company, valued at approximately $99,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joeben Bevirt purchased 35,000 shares of the business's stock in a transaction that occurred on Thursday, July 21st. The shares were purchased at an average cost of $5.53 per share, with a total value of $193,550.00. Following the completion of the acquisition, the chief executive officer now directly owns 54,549,028 shares in the company, valued at $301,656,124.84. The disclosure for this purchase can be found here. 51.30% of the stock is currently owned by insiders.
Joby Aviation Stock Performance
Shares of JOBY stock opened at $5.23 on Friday. The firm has a fifty day moving average of $5.52 and a 200-day moving average of $5.36. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -13.41 and a beta of 1.59. Joby Aviation, Inc. has a 52-week low of $3.61 and a 52-week high of $11.10.
Joby Aviation (NYSE:JOBY – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.59 earnings per share for the current year.
About Joby Aviation
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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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.
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