BNP Paribas Financial Markets Has $13.23 Million Holdings in Joby Aviation, Inc. $JOBY

BNP Paribas Financial Markets lifted its position in Joby Aviation, Inc. (NYSE:JOBY) by 971.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,002,005 shares of the company’s stock after buying an additional 908,486 shares during the quarter. BNP Paribas Financial Markets’ holdings in Joby Aviation were worth $13,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JOBY. Royal Bank of Canada grew its stake in shares of Joby Aviation by 110.5% in the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock valued at $512,000 after buying an additional 44,659 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Joby Aviation in the first quarter valued at $273,000. Strs Ohio bought a new position in shares of Joby Aviation in the first quarter valued at $37,000. Cetera Investment Advisers grew its stake in shares of Joby Aviation by 16.0% in the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock valued at $676,000 after buying an additional 8,840 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Joby Aviation by 80.1% in the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock valued at $7,920,000 after buying an additional 333,995 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.06.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 421,019 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the completion of the sale, the chief executive officer owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the completion of the sale, the director directly owned 55,911,391 shares of the company’s stock, valued at approximately $672,054,919.82. The trade was a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,505,784 shares of company stock valued at $15,457,801 in the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Trading Up 0.1%

Shares of Joby Aviation stock opened at $9.56 on Monday. The firm has a 50-day moving average of $9.69 and a 200-day moving average of $11.49. The stock has a market cap of $9.40 billion, a PE ratio of -8.31 and a beta of 2.66. Joby Aviation, Inc. has a 52-week low of $7.70 and a 52-week high of $20.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the previous year, the business posted ($0.11) earnings per share. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

About Joby Aviation

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.