Joby Aviation, Inc. $JOBY Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,363 shares of the company’s stock after selling 3,923 shares during the period. MetLife Investment Management LLC’s holdings in Joby Aviation were worth $1,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $121,000. Deutsche Bank AG increased its position in shares of Joby Aviation by 26.0% during the fourth quarter. Deutsche Bank AG now owns 350,784 shares of the company’s stock worth $2,852,000 after purchasing an additional 72,329 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Joby Aviation by 5,161.0% during the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after purchasing an additional 33,443 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $495,000. Finally, California State Teachers Retirement System increased its position in shares of Joby Aviation by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on JOBY. Wall Street Zen lowered Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and raised their price target for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

Joby Aviation Stock Down 2.3%

Shares of NYSE:JOBY opened at $13.07 on Thursday. The company has a market cap of $11.19 billion, a P/E ratio of -12.21 and a beta of 2.50. Joby Aviation, Inc. has a 52 week low of $4.70 and a 52 week high of $20.95. The company has a 50-day moving average price of $14.90 and a 200 day moving average price of $9.68.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. Joby Aviation’s revenue for the quarter was down 94.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. Analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Bonny W. Simi sold 173,456 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the sale, the insider owned 211,397 shares of the company’s stock, valued at $3,646,598.25. The trade was a 45.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 500,001 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $14.35, for a total value of $7,175,014.35. Following the sale, the director directly owned 56,828,058 shares in the company, valued at $815,482,632.30. This trade represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,444,313 shares of company stock worth $28,868,184. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Profile

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. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.