Huntington National Bank Grows Stock Position in Joby Aviation, Inc. $JOBY

Huntington National Bank increased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 333,800.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,678 shares of the company’s stock after acquiring an additional 6,676 shares during the period. Huntington National Bank’s holdings in Joby Aviation were worth $70,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in Joby Aviation in the first quarter valued at approximately $18,936,000. Rheos Capital Works Inc. increased its position in shares of Joby Aviation by 58.2% in the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after acquiring an additional 2,650,000 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Joby Aviation during the second quarter valued at about $15,392,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Joby Aviation by 78,353.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 266,743 shares of the company’s stock worth $2,814,000 after purchasing an additional 266,403 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in Joby Aviation during the 2nd quarter valued at about $1,587,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Up 4.2%

NYSE JOBY opened at $14.92 on Friday. The firm has a market capitalization of $12.77 billion, a PE ratio of -11.13 and a beta of 2.52. The stock’s 50 day moving average is $15.72 and its 200 day moving average is $12.85. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same period last year, the firm posted ($0.21) EPS. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research analyst reports. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Joby Aviation in a report on Thursday. Finally, Morgan Stanley raised their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $14.00.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $18.09, for a total value of $86,397.84. Following the completion of the transaction, the insider owned 156,464 shares of the company’s stock, valued at $2,830,433.76. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Allison sold 27,537 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $16.84, for a total transaction of $463,723.08. Following the sale, the insider directly owned 692,428 shares in the company, valued at $11,660,487.52. This trade represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,657,424 shares of company stock valued at $25,068,869. Company insiders own 28.50% of the company’s stock.

About Joby Aviation

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.