Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in Joby Aviation, Inc. $JOBY

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 36.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,018,762 shares of the company’s stock after selling 595,366 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Joby Aviation worth $9,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its holdings in Joby Aviation by 2.2% in the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after purchasing an additional 1,188 shares during the period. Strs Ohio boosted its stake in shares of Joby Aviation by 2.5% in the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after buying an additional 1,200 shares during the period. Scotia Capital Inc. boosted its stake in shares of Joby Aviation by 8.1% in the 3rd quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock valued at $269,000 after buying an additional 1,250 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Joby Aviation by 23.3% in the 3rd quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock valued at $110,000 after buying an additional 1,295 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 416,666 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the completion of the transaction, the director directly owned 55,911,391 shares of the company’s stock, valued at approximately $672,054,919.82. This represents a 0.74% decrease in their position. The sale 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, CFO Rodrigo Brumana sold 78,489 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the completion of the transaction, the chief financial officer owned 81,694 shares of the company’s stock, valued at $923,142.20. The trade was a 49.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 692,217 shares of company stock valued at $7,551,000. Insiders own 20.35% of the company’s stock.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $7.92 on Friday. The company has a current ratio of 17.98, a quick ratio of 22.05 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a twelve month low of $6.63 and a twelve month high of $19.98. The stock has a 50 day moving average of $8.35 and a two-hundred day moving average of $9.37. The stock has a market cap of $7.84 billion, a P/E ratio of -8.00 and a beta of 2.73.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. During the same period in the previous year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 257493.3% on a year-over-year basis. On average, research analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, August 6th. Morgan Stanley dropped their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Finally, Needham & Company LLC lowered their target price on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Profile

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.