Mitsubishi UFJ Trust & Banking Corp Sells 45,896 Shares of Joby Aviation, Inc. $JOBY

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 864,524 shares of the company’s stock after selling 45,896 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Joby Aviation worth $13,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC bought a new position in Joby Aviation during the 3rd quarter worth about $663,000. Voya Investment Management LLC lifted its position in shares of Joby Aviation by 20.0% in the 3rd quarter. Voya Investment Management LLC now owns 1,150,050 shares of the company’s stock worth $18,562,000 after purchasing an additional 192,064 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Joby Aviation during the second quarter valued at approximately $461,000. Udine Wealth Management Inc. purchased a new position in Joby Aviation during the third quarter valued at approximately $1,414,000. Finally, Ring Mountain Capital LLC bought a new position in Joby Aviation in the second quarter worth approximately $211,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 23,552 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 288,814 shares in the company, valued at $3,901,877.14. This trade represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Allison sold 32,448 shares of Joby Aviation stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total value of $429,936.00. Following the sale, the insider directly owned 659,980 shares of the company’s stock, valued at $8,744,735. This trade represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 289,556 shares of company stock worth $4,052,822 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Trading Up 1.5%

Shares of Joby Aviation stock opened at $13.48 on Wednesday. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of -10.06 and a beta of 2.56. The firm’s 50 day simple moving average is $14.44 and its two-hundred day simple moving average is $15.42.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. The Goldman Sachs Group initiated coverage on Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Company 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.