SBI Securities Co. Ltd. Sells 20,314 Shares of Joby Aviation, Inc. $JOBY

SBI Securities Co. Ltd. cut its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 10.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 174,320 shares of the company’s stock after selling 20,314 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Joby Aviation were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Toyota Motor Corp lifted its stake in Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares during the period. Nuveen LLC purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $18,936,000. Rheos Capital Works Inc. raised its holdings in shares of Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after purchasing an additional 2,650,000 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Joby Aviation during the second quarter valued at approximately $15,392,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in 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. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction on Monday, September 15th. The shares were sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the transaction, the director owned 56,328,057 shares in the company, valued at approximately $805,491,215.10. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joeben Bevirt sold 253,600 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was 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 $981,849,808.98. This represents a 0.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,657,424 shares of company stock valued at $25,068,869. 28.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on JOBY. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $14.00.

Joby Aviation Stock Performance

NYSE JOBY opened at $16.31 on Thursday. The business’s fifty day moving average is $15.88 and its 200 day moving average is $13.06. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The company has a market capitalization of $13.96 billion, a PE ratio of -12.17 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 7962.1% on a year-over-year basis. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.