Joby Aviation, Inc. $JOBY Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 36.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,018,762 shares of the company’s stock after selling 595,366 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Joby Aviation were worth $9,087,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Fifth Third Bancorp lifted its position in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Joby Aviation in the 4th quarter valued at about $28,000. Ancora Advisors LLC purchased a new stake in Joby Aviation in the 3rd quarter valued at about $35,000. Pandora Wealth Inc. acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $32,000. Finally, DV Equities LLC acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the completion of the transaction, the insider owned 180,179 shares of the company’s stock, valued at $1,392,783.67. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Allison sold 27,932 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $7.53, for a total transaction of $210,327.96. Following the completion of the transaction, the insider owned 710,396 shares in the company, valued at approximately $5,349,281.88. The trade was a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 692,217 shares of company stock valued at $7,551,000 over the last three months. 20.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of 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. Needham & Company LLC lowered their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Barclays upgraded Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Canaccord Genuity Group cut their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Stock Performance

NYSE:JOBY opened at $7.92 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 22.05. The firm has a 50-day moving average of $8.35 and a two-hundred day moving average of $9.37. The stock has a market cap of $7.84 billion, a P/E ratio of -8.00 and a beta of 2.73. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The firm’s quarterly revenue was up 257493.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.41) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

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.