Magnetar Financial LLC Makes New $896,000 Investment in Joby Aviation, Inc. $JOBY

Magnetar Financial LLC purchased a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 84,971 shares of the company’s stock, valued at approximately $896,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GPS Wealth Strategies Group LLC grew its position in Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after buying an additional 750 shares during the period. Strs Ohio purchased a new position in shares of Joby Aviation during the 1st quarter worth $37,000. Ameritas Advisory Services LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at $39,000. Solstein Capital LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth $47,000. Finally, AlphaQuest LLC raised its holdings in Joby Aviation by 225.8% in the 2nd quarter. AlphaQuest LLC now owns 5,444 shares of the company’s stock worth $57,000 after purchasing an additional 3,773 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JOBY. JPMorgan Chase & Co. boosted their price target on 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 reaffirmed a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. Morgan Stanley increased their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $14.00.

Joby Aviation Trading Up 0.4%

NYSE:JOBY opened at $13.09 on Monday. The stock has a 50-day moving average price of $15.93 and a 200 day moving average price of $13.47. The stock has a market capitalization of $11.94 billion, a P/E ratio of -9.77 and a beta of 2.52. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. During the same period last year, the firm earned ($0.21) EPS. Joby Aviation’s revenue for the quarter was up 7962.1% compared to the same quarter last year. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joeben Bevirt sold 253,600 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $16.29, for a total transaction of $4,131,144.00. Following the completion of the transaction, the chief executive officer directly owned 60,273,162 shares of the company’s stock, valued at approximately $981,849,808.98. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.84, for a total transaction of $463,723.08. Following the completion of the sale, the insider owned 692,428 shares in the company, valued at approximately $11,660,487.52. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,146,267 shares of company stock valued at $17,729,562 in the last quarter. Company insiders own 32.40% of the company’s stock.

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.