Williamson Legacy Group LLC Invests $998,000 in Joby Aviation, Inc. $JOBY

Williamson Legacy Group LLC bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, Holdings Channel.com reports. The firm bought 75,639 shares of the company’s stock, valued at approximately $998,000.

A number of other large investors also recently modified their holdings of JOBY. Vanguard Group Inc. lifted its holdings in Joby Aviation by 13.2% in the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after buying an additional 5,828,189 shares during the period. Man Group plc acquired a new position in Joby Aviation in the third quarter valued at approximately $40,283,000. Clear Street Group Inc. acquired a new position in Joby Aviation in the third quarter valued at approximately $36,264,000. Bank of America Corp DE lifted its holdings in Joby Aviation by 41.2% in the third quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock valued at $67,661,000 after buying an additional 1,223,412 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Joby Aviation in the second quarter valued at approximately $12,471,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Stock Up 5.7%

Shares of NYSE:JOBY opened at $11.54 on Wednesday. Joby Aviation, Inc. has a 52 week low of $6.72 and a 52 week high of $20.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The company has a market capitalization of $11.35 billion, a PE ratio of -10.03 and a beta of 2.61. The company has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $11.70.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping 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 company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Activity at Joby Aviation

In other news, insider Eric Allison sold 74,844 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares of the company’s stock, valued at $6,760,080. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the sale, 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 position. 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. Insiders sold 1,089,118 shares of company stock worth $10,449,476 over the last three months. 28.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

JOBY has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Canaccord Genuity Group lowered their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $13.06.

About Joby Aviation

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.