29,690 Shares in Joby Aviation, Inc. (NYSE:JOBY) Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System acquired a new position in Joby Aviation, Inc. (NYSE:JOBY – Get Rating) in the 4th quarter, Holdings Channel reports. The firm acquired 29,690 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds also recently added to or reduced their stakes in JOBY. Toroso Investments LLC lifted its stake in Joby Aviation by 19.5% during the first quarter. Toroso Investments LLC now owns 13,394 shares of the company’s stock worth $89,000 after purchasing an additional 2,186 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Joby Aviation by 11.1% in the third quarter. Royal Bank of Canada now owns 27,782 shares of the company’s stock valued at $119,000 after acquiring an additional 2,774 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Joby Aviation by 22.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,916 shares of the company’s stock valued at $69,000 after acquiring an additional 2,925 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Joby Aviation by 486.7% in the third quarter. IFP Advisors Inc now owns 3,737 shares of the company’s stock valued at $38,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Adviser Investments LLC raised its stake in shares of Joby Aviation by 13.6% in the fourth quarter. Adviser Investments LLC now owns 28,265 shares of the company’s stock valued at $106,000 after acquiring an additional 3,394 shares in the last quarter. 29.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Gregory Bowles sold 5,903 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $5.01, for a total transaction of $29,574.03. Following the transaction, the insider now owns 26,948 shares of the company’s stock, valued at $135,009.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Joeben Bevirt sold 26,215 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $4.17, for a total value of $109,316.55. Following the completion of the sale, the chief executive officer now owns 511,265 shares in the company, valued at $2,131,975.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gregory Bowles sold 5,903 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $5.01, for a total transaction of $29,574.03. Following the completion of the sale, the insider now owns 26,948 shares of the company’s stock, valued at approximately $135,009.48. The disclosure for this sale can be found here. Insiders have sold a total of 129,573 shares of company stock valued at $607,027 over the last quarter. 49.50% of the stock is currently owned by insiders.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $5.53 on Wednesday. Joby Aviation, Inc. has a 1 year low of $3.15 and a 1 year high of $7.15. The stock’s 50-day moving average is $4.26 and its two-hundred day moving average is $4.11. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -10.43 and a beta of 1.59.

Joby Aviation (NYSE:JOBY – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). As a group, research analysts predict that Joby Aviation, Inc. will post -0.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut Joby Aviation from a “hold” rating to a “sell” rating and cut their price target for the company from $6.00 to $4.00 in a research note on Tuesday, March 7th. Morgan Stanley dropped their price objective on Joby Aviation from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.13.

Joby Aviation Company 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.