Arizona State Retirement System Buys New Position in Joby Aviation, Inc. (NYSE:JOBY)

Arizona State Retirement System bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 43,054 shares of the company’s stock, valued at approximately $144,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in Joby Aviation during the 4th quarter valued at about $99,000. Commonwealth Equity Services LLC raised its position in Joby Aviation by 20.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,606 shares of the company’s stock valued at $95,000 after purchasing an additional 4,877 shares in the last quarter. LPL Financial LLC raised its position in Joby Aviation by 9.1% in the 4th quarter. LPL Financial LLC now owns 61,127 shares of the company’s stock valued at $205,000 after purchasing an additional 5,100 shares in the last quarter. SG Americas Securities LLC raised its position in Joby Aviation by 100.4% in the 4th quarter. SG Americas Securities LLC now owns 79,733 shares of the company’s stock valued at $267,000 after purchasing an additional 39,944 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Joby Aviation by 19.3% in the 4th quarter. ProShare Advisors LLC now owns 33,731 shares of the company’s stock valued at $113,000 after purchasing an additional 5,453 shares in the last quarter. 29.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Joby Aviation news, insider Gregory Bowles sold 7,746 shares of Joby Aviation stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $5.36, for a total transaction of $41,518.56. Following the transaction, the insider now owns 15,245 shares of the company’s stock, valued at $81,713.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Joby Aviation news, insider Eric Allison sold 18,801 shares of Joby Aviation stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $4.12, for a total transaction of $77,460.12. Following the transaction, the insider now owns 303,569 shares of the company’s stock, valued at $1,250,704.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gregory Bowles sold 7,746 shares of Joby Aviation stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $5.36, for a total value of $41,518.56. Following the transaction, the insider now directly owns 15,245 shares in the company, valued at approximately $81,713.20. The disclosure for this sale can be found here. Insiders have sold a total of 65,734 shares of company stock valued at $290,621 over the last quarter. Company insiders own 49.50% of the company’s stock.

Analyst Ratings Changes

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

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $5.45 on Friday. Joby Aviation, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $7.15. The firm has a market capitalization of $3.44 billion, a PE ratio of -10.28 and a beta of 1.59. The stock’s 50-day simple moving average is $4.33 and its 200-day simple moving average is $4.13.

Joby Aviation (NYSE:JOBY – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.65 earnings per share for the current fiscal year.

About Joby Aviation

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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.