Lingotto Investment Management LLP Has $41.43 Million Stock Holdings in Joby Aviation, Inc. $JOBY

Lingotto Investment Management LLP increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,138,240 shares of the company’s stock after purchasing an additional 799,260 shares during the quarter. Joby Aviation makes up about 0.7% of Lingotto Investment Management LLP’s portfolio, making the stock its 20th largest holding. Lingotto Investment Management LLP’s holdings in Joby Aviation were worth $41,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Joby Aviation by 110.5% during the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after acquiring an additional 44,659 shares during the last quarter. AQR Capital Management LLC acquired a new position in Joby Aviation in the 1st quarter valued at approximately $273,000. Strs Ohio acquired a new position in Joby Aviation in the 1st quarter valued at approximately $37,000. Cetera Investment Advisers increased its position in Joby Aviation by 16.0% in the 2nd quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock valued at $676,000 after acquiring an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Joby Aviation by 80.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock valued at $7,920,000 after acquiring an additional 333,995 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several recent research reports. Canaccord Genuity Group decreased their price target 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. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Oppenheimer set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, February 26th. 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 research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Joby Aviation presently has an average rating of “Reduce” and an average target price of $13.06.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction 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 $328,825,964.76. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00. Following the transaction, the insider directly owned 676,008 shares in the company, valued at approximately $6,760,080. This represents a 9.97% 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 sold 1,505,784 shares of company stock valued at $15,457,801 over the last 90 days. Insiders own 32.40% of the company’s stock.

Joby Aviation Trading Up 0.8%

NYSE:JOBY opened at $11.99 on Tuesday. The firm’s fifty day moving average is $9.54 and its 200-day moving average is $11.60. 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 52 week low of $7.34 and a 52 week high of $20.95. The firm has a market cap of $11.80 billion, a P/E ratio of -10.43 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same period in the prior year, the firm posted ($0.11) EPS. Equities analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Joby Aviation 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.