Mercer Global Advisors Inc. ADV raised its position in shares of Joby Aviation, Inc. (NYSE:JOBY – Get Rating) by 49.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,321 shares of the company's stock after purchasing an additional 10,050 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Joby Aviation were worth $201,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in Joby Aviation during the 1st quarter valued at approximately $84,000. Nikko Asset Management Americas Inc. grew its position in shares of Joby Aviation by 49.4% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,917,603 shares of the company's stock worth $19,811,000 after buying an additional 965,127 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Joby Aviation by 40.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 44,453 shares of the company's stock worth $295,000 after buying an additional 12,810 shares during the period. Adviser Investments LLC acquired a new stake in shares of Joby Aviation during the 1st quarter worth approximately $166,000. Finally, Victory Capital Management Inc. grew its position in shares of Joby Aviation by 29.6% during the 1st quarter. Victory Capital Management Inc. now owns 34,163 shares of the company's stock worth $179,000 after buying an additional 7,809 shares during the period. Institutional investors and hedge funds own 29.04% of the company's stock.
Get Joby Aviation alerts:Joby Aviation Stock Down 2.1 %
Shares of JOBY opened at $5.23 on Friday. Joby Aviation, Inc. has a 12-month low of $3.61 and a 12-month high of $11.10. The business's fifty day moving average is $5.52 and its 200 day moving average is $5.36. The stock has a market cap of $3.18 billion, a P/E ratio of -13.41 and a beta of 1.59.
Joby Aviation (NYSE:JOBY – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.15). On average, analysts expect that Joby Aviation, Inc. will post -0.59 EPS for the current year.Insider Buying and Selling
In other Joby Aviation news, insider Didier Papadopoulos sold 40,000 shares of the firm's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total transaction of $220,000.00. Following the transaction, the insider now directly owns 18,128 shares in the company, valued at approximately $99,704. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Joby Aviation news, insider Didier Papadopoulos sold 40,000 shares of the firm's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total transaction of $220,000.00. Following the transaction, the insider now directly owns 18,128 shares in the company, valued at approximately $99,704. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt acquired 35,000 shares of the company's stock in a transaction on Thursday, July 21st. The shares were bought at an average price of $5.53 per share, for a total transaction of $193,550.00. Following the completion of the purchase, the chief executive officer now owns 54,549,028 shares in the company, valued at approximately $301,656,124.84. The disclosure for this purchase can be found here. 51.30% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages have recently commented on JOBY. Raymond James began coverage on shares of Joby Aviation in a research report on Wednesday, July 27th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Joby Aviation from $8.00 to $7.00 in a research report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Joby Aviation presently has an average rating of "Hold" and an average target price of $9.20.
Joby Aviation Profile
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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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