DnB Asset Management AS Lowers Holdings in Joby Aviation, Inc. (NYSE:JOBY)

DnB Asset Management AS reduced its stake in shares of Joby Aviation, Inc. (NYSE:JOBYGet Rating) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,646 shares of the company’s stock after selling 4,122 shares during the period. DnB Asset Management AS’s holdings in Joby Aviation were worth $460,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Minot Wealth Management LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth $66,000. Prelude Capital Management LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth $69,000. Traverso Chambers Private Wealth Management LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth $73,000. Pearl River Capital LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth $78,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth $78,000. 29.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.50, for a total value of $220,000.00. Following the completion of the transaction, the insider now owns 18,128 shares of the company’s stock, valued at approximately $99,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Joeben Bevirt bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was purchased at an average price of $5.53 per share, with a total value of $193,550.00. Following the purchase, the chief executive officer now owns 54,549,028 shares of the company’s stock, valued at approximately $301,656,124.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.50, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now directly owns 18,128 shares of the company’s stock, valued at approximately $99,704. The disclosure for this sale can be found here. 51.30% of the stock is currently owned by corporate insiders.

Joby Aviation Stock Down 4.7 %

NYSE:JOBY opened at $5.02 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of -12.74 and a beta of 1.53. Joby Aviation, Inc. has a 52-week low of $3.61 and a 52-week high of $11.10. The stock has a fifty day simple moving average of $5.65 and a 200-day simple moving average of $5.41.

Joby Aviation (NYSE:JOBYGet Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James assumed coverage on shares of Joby Aviation in a research report on Wednesday, July 27th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Joby Aviation from $8.00 to $7.00 in a research note on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Hold” and an average target price of $9.20.

Joby Aviation Profile

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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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.

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Institutional Ownership by Quarter for Joby Aviation (NYSE:JOBY)

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