Trexquant Investment LP Decreases Stake in Joby Aviation, Inc. (NYSE:JOBY)

Trexquant Investment LP cut its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 15.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 353,691 shares of the company’s stock after selling 62,181 shares during the period. Trexquant Investment LP’s holdings in Joby Aviation were worth $2,352,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings in Joby Aviation by 84.1% during the third quarter. Commonwealth Equity Services LLC now owns 50,816 shares of the company’s stock worth $328,000 after acquiring an additional 23,220 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Joby Aviation by 37.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 21,246 shares of the company’s stock valued at $137,000 after buying an additional 5,750 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Joby Aviation by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,119,664 shares of the company’s stock valued at $7,222,000 after acquiring an additional 66,803 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Joby Aviation by 21.3% in the 3rd quarter. Principal Financial Group Inc. now owns 37,272 shares of the company’s stock valued at $240,000 after acquiring an additional 6,555 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Joby Aviation in the 3rd quarter valued at approximately $322,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Up 2.1 %

JOBY opened at $4.91 on Friday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -6.46 and a beta of 2.04. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $11.98. The business has a 50 day moving average of $5.03 and a 200-day moving average of $5.65.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. Joby Aviation’s revenue was down 97.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) EPS. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Joby Aviation has an average rating of “Moderate Buy” and an average price target of $7.67.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the transaction, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric Allison sold 19,393 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $4.70, for a total value of $91,147.10. Following the transaction, the insider now owns 422,592 shares in the company, valued at approximately $1,986,182.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the transaction, the chief executive officer now owns 662,605 shares in the company, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 562,420 shares of company stock valued at $2,871,933. 49.50% of the stock is currently owned by company insiders.

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.