Joby Aviation (NYSE:JOBY) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Joby Aviation (NYSE:JOBY) from an underweight rating to a neutral rating in a research report released on Friday, MarketBeat.com reports. The brokerage currently has $5.00 price objective on the stock.

Joby Aviation Stock Performance

Shares of JOBY remained flat at $5.38 during trading hours on Friday. 4,227,209 shares of the stock were exchanged, compared to its average volume of 4,205,785. The firm has a fifty day moving average of $5.12 and a two-hundred day moving average of $5.73. The firm has a market cap of $3.78 billion, a PE ratio of -6.64 and a beta of 2.04. Joby Aviation has a 1-year low of $4.06 and a 1-year high of $11.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.50 million. During the same period in the prior year, the company posted ($0.14) EPS. Sell-side analysts predict that Joby Aviation will post -0.72 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the sale, the chief executive officer now owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Joby Aviation news, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72. Following the sale, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Field sold 12,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $5.50, for a total transaction of $68,750.00. Following the sale, the insider now directly owns 232,506 shares in the company, valued at $1,278,783. The disclosure for this sale can be found here. Insiders have sold a total of 550,832 shares of company stock valued at $2,822,382 over the last quarter. 49.50% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in shares of Joby Aviation by 10.3% during the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after purchasing an additional 5,267,436 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Joby Aviation by 20.6% during the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock worth $220,143,000 after purchasing an additional 5,819,837 shares in the last quarter. 8VC GP I LLC acquired a new position in Joby Aviation in the fourth quarter valued at approximately $95,727,000. Charles Schwab Investment Management Inc. boosted its stake in Joby Aviation by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after acquiring an additional 64,404 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in Joby Aviation by 7.2% in the fourth quarter. ARK Investment Management LLC now owns 3,404,900 shares of the company’s stock valued at $22,643,000 after acquiring an additional 227,331 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.