Y Intercept Hong Kong Ltd Sells 1,313,757 Shares of Joby Aviation, Inc. $JOBY

Y Intercept Hong Kong Ltd reduced its stake in Joby Aviation, Inc. (NYSE:JOBY) by 90.0% during the 3rd quarter, Holdings Channel reports. The firm owned 145,232 shares of the company’s stock after selling 1,313,757 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Joby Aviation were worth $2,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JOBY. Toyota Motor Corp increased its stake in shares of Joby Aviation by 63.1% in the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares during the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 5.4% during the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after purchasing an additional 573,328 shares during the period. State Street Corp raised its holdings in Joby Aviation by 3.0% in the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock worth $109,636,000 after purchasing an additional 305,109 shares during the period. Rheos Capital Works Inc. boosted its position in shares of Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after purchasing an additional 2,650,000 shares in the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Joby Aviation by 1.9% in the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock valued at $37,003,000 after buying an additional 64,562 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Price Performance

Shares of Joby Aviation stock traded up $0.06 during midday trading on Wednesday, reaching $13.53. The company had a trading volume of 1,651,120 shares, compared to its average volume of 23,293,230. The stock has a fifty day moving average price of $14.44 and a 200 day moving average price of $15.42. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The firm has a market cap of $12.33 billion, a PE ratio of -10.05 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same quarter in the previous year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 7962.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gregory Bowles sold 5,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total transaction of $79,237.76. Following the transaction, the insider directly owned 162,674 shares of the company’s stock, valued at approximately $2,394,561.28. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 6,429 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $15.84, for a total value of $101,835.36. Following the sale, the insider owned 113,718 shares of the company’s stock, valued at approximately $1,801,293.12. This represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 289,556 shares of company stock worth $4,052,822 over the last three months. Insiders own 32.40% of the company’s stock.

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.