DNB Asset Management AS increased its position in Joby Aviation, Inc. (NYSE:JOBY – Free Report) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 366,281 shares of the company’s stock after buying an additional 51,344 shares during the period. DNB Asset Management AS’s holdings in Joby Aviation were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of JOBY. Royal Bank of Canada lifted its holdings in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock valued at $512,000 after buying an additional 44,659 shares during the period. AQR Capital Management LLC acquired a new position in shares of Joby Aviation in the 1st quarter valued at about $273,000. Strs Ohio acquired a new position in shares of Joby Aviation in the 1st quarter valued at about $37,000. Cetera Investment Advisers lifted its holdings in shares of Joby Aviation by 16.0% in the 2nd quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock valued at $676,000 after buying an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Joby Aviation by 80.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock valued at $7,920,000 after buying an additional 333,995 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.
Joby Aviation Price Performance
Shares of Joby Aviation stock opened at $10.03 on Wednesday. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. Joby Aviation, Inc. has a twelve month low of $6.42 and a twelve month high of $20.95. The business has a 50-day moving average price of $9.29 and a 200 day moving average price of $11.88. The firm has a market cap of $9.86 billion, a PE ratio of -8.72 and a beta of 2.61.
Insider Buying and Selling
In related news, CEO Joeben Bevirt sold 421,019 shares of Joby Aviation stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $10.38, for a total value of $4,370,177.22. Following the sale, the chief executive officer directly owned 31,678,802 shares in the company, valued at approximately $328,825,964.76. The trade was a 1.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of Joby Aviation stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the sale, 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. Insiders sold a total of 1,096,111 shares of company stock worth $10,504,153 in the last quarter. 32.40% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have recently issued reports on JOBY shares. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Morgan Stanley decreased their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Canaccord Genuity Group decreased their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Oppenheimer set a $18.00 price target on Joby Aviation in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $13.06.
Check Out Our Latest Report on JOBY
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.
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