SG Americas Securities LLC Has $266,000 Stake in Joby Aviation, Inc. $JOBY

SG Americas Securities LLC lowered its position in Joby Aviation, Inc. (NYSE:JOBY) by 83.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,458 shares of the company’s stock after selling 81,013 shares during the period. SG Americas Securities LLC’s holdings in Joby Aviation were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JOBY. Toyota Motor Corp increased its stake in shares of Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after purchasing an additional 49,701,790 shares during the last quarter. Rheos Capital Works Inc. increased its position in Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after buying 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 about $15,392,000. Balyasny Asset Management L.P. acquired a new stake in shares of Joby Aviation in the second quarter worth about $12,471,000. Finally, Jump Financial LLC acquired a new stake in shares of Joby Aviation in the second quarter worth about $12,017,000. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the topic of a number of analyst reports. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a research note on Thursday, November 6th. Finally, Morgan Stanley lifted 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. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $13.43.

Insider Activity

In other Joby Aviation news, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total value of $1,525,896.05. Following the completion of the transaction, the insider owned 125,114 shares of the company’s stock, valued at $1,732,828.90. This represents a 46.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Allison sold 32,448 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total value of $429,936.00. Following the completion of the sale, the insider owned 659,980 shares of the company’s stock, valued at $8,744,735. This represents a 4.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 289,556 shares of company stock valued at $4,052,822. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Trading Up 1.5%

Shares of JOBY stock opened at $13.48 on Wednesday. The firm has a market capitalization of $12.29 billion, a P/E ratio of -10.06 and a beta of 2.56. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95. The firm’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $15.42.

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

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.