Intel Corp Trims Stake in Joby Aviation, Inc. $JOBY

Intel Corp trimmed its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 14.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,816,315 shares of the company’s stock after selling 2,600,000 shares during the period. Joby Aviation accounts for 24.7% of Intel Corp’s portfolio, making the stock its 2nd biggest position. Intel Corp owned approximately 1.85% of Joby Aviation worth $255,275,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Toyota Motor Corp grew its position in shares of Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after buying an additional 49,701,790 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in Joby Aviation by 58.2% in the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after acquiring an additional 2,650,000 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Joby Aviation during the second quarter valued at approximately $15,392,000. Balyasny Asset Management L.P. acquired a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $12,471,000. Finally, Jump Financial LLC bought a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $12,017,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Trading Up 0.9%

Shares of NYSE:JOBY opened at $15.42 on Friday. The company has a 50 day moving average of $14.56 and a 200-day moving average of $15.20. The firm has a market cap of $14.06 billion, a P/E ratio of -11.51 and a beta of 2.56. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JOBY shares. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Morgan Stanley lifted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and an average target price of $13.43.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 28,260 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total transaction of $415,987.20. Following the completion of the transaction, the insider owned 149,369 shares of the company’s stock, valued at $2,198,711.68. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 23,552 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $318,187.52. Following the transaction, the chief executive officer directly owned 288,814 shares in the company, valued at approximately $3,901,877.14. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 289,556 shares of company stock valued at $4,052,822. 28.50% of the stock is currently owned by insiders.

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.