Axiom Investors LLC DE Has $2.97 Million Position in Joby Aviation, Inc. $JOBY

Axiom Investors LLC DE cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 38.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 224,715 shares of the company’s stock after selling 141,915 shares during the quarter. Axiom Investors LLC DE’s holdings in Joby Aviation were worth $2,966,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of JOBY. Royal Bank of Canada boosted its position in Joby Aviation by 110.5% during the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock valued at $512,000 after purchasing an additional 44,659 shares during the last quarter. AQR Capital Management LLC bought a new stake in Joby Aviation in the first quarter valued at approximately $273,000. Strs Ohio bought a new stake in Joby Aviation in the first quarter valued at approximately $37,000. Cetera Investment Advisers raised its stake in 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in 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 during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 416,666 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the sale, the director owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joeben Bevirt sold 421,019 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.38, for a total value of $4,370,177.22. Following the transaction, the chief executive officer directly owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,566,838 shares of company stock worth $16,167,306 over the last 90 days. 32.40% of the stock is currently owned by company insiders.

Joby Aviation Trading Down 4.4%

Shares of JOBY stock opened at $9.28 on Wednesday. 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, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $20.95. The company has a market cap of $9.12 billion, a PE ratio of -8.07 and a beta of 2.66. The stock’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $11.43.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same quarter last year, the business posted ($0.11) EPS. Equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JOBY has been the topic of several research analyst reports. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Morgan Stanley dropped their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group lowered their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $13.06.

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.