Joby Aviation, Inc. $JOBY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Joby Aviation, Inc. (NYSE:JOBY) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,795,443 shares of the company’s stock after selling 718,796 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Joby Aviation worth $28,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Asset Planning Inc increased its stake in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares during the last quarter. Canton Hathaway LLC acquired a new position in Joby Aviation during the 3rd quarter worth approximately $29,000. Hilltop National Bank purchased a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $32,000. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 110,173 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total value of $1,525,896.05. Following the completion of the sale, the insider owned 125,114 shares in the company, valued at approximately $1,732,828.90. The trade was a 46.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 23,552 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.51, for a total transaction of $318,187.52. Following the transaction, the chief executive officer owned 288,814 shares in the company, valued at approximately $3,901,877.14. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 289,556 shares of company stock valued at $4,052,822 over the last 90 days. 28.50% of the stock is owned by insiders.

Joby Aviation Price Performance

NYSE JOBY opened at $15.42 on Friday. The company has a fifty day moving average of $14.56 and a two-hundred day moving average of $15.20. The company has a market capitalization of $14.06 billion, a PE ratio of -11.51 and a beta of 2.56. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. The business’s revenue was up 7962.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JOBY shares. The Goldman Sachs Group started coverage on shares of Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. Morgan Stanley increased their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.43.

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.