Joby Aviation, Inc. $JOBY Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 22,166.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,875 shares of the company’s stock after purchasing an additional 442,877 shares during the quarter. Fifth Third Bancorp’s holdings in Joby Aviation were worth $3,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after buying an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Joby Aviation during the 4th quarter worth approximately $28,000. Pandora Wealth Inc. purchased a new stake in shares of Joby Aviation during the 4th quarter worth approximately $32,000. DV Equities LLC acquired a new stake in shares of Joby Aviation in the 4th quarter worth approximately $33,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Joby Aviation in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JOBY. Canaccord Genuity Group reduced their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Morgan Stanley dropped their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $13.64.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.27 on Monday. Joby Aviation, Inc. has a fifty-two week low of $6.89 and a fifty-two week high of $20.95. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -6.32 and a beta of 2.71. The stock has a fifty day moving average of $9.64 and a two-hundred day moving average of $10.33. 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 for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, Director Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $12.02, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Rodrigo Brumana sold 78,489 shares of Joby Aviation stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total transaction of $886,925.70. Following the completion of the sale, the chief financial officer directly owned 81,694 shares of the company’s stock, valued at $923,142.20. The trade was a 49.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,125,580 shares of company stock valued at $12,172,117. 28.50% of the stock is currently owned by insiders.

Joby Aviation Company Profile

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.