Joby Aviation, Inc. $JOBY Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC lessened its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 21.4% in the fourth quarter, HoldingsChannel reports. The fund owned 250,067 shares of the company’s stock after selling 68,200 shares during the period. Polen Capital Management LLC’s holdings in Joby Aviation were worth $3,301,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC increased its holdings in shares of Joby Aviation by 0.9% during the fourth quarter. Nuveen LLC now owns 1,577,351 shares of the company’s stock valued at $20,821,000 after purchasing an additional 14,507 shares during the period. Xponance LLC lifted its holdings in Joby Aviation by 5.7% in the fourth quarter. Xponance LLC now owns 38,061 shares of the company’s stock worth $502,000 after purchasing an additional 2,056 shares during the period. ARK Investment Management LLC grew its position in Joby Aviation by 11.5% in the 4th quarter. ARK Investment Management LLC now owns 3,357,008 shares of the company’s stock valued at $44,313,000 after buying an additional 346,547 shares in the last quarter. Empowered Funds LLC acquired a new position in Joby Aviation during the 4th quarter valued at about $57,000. Finally, Meeder Advisory Services Inc. increased its stake in Joby Aviation by 24.3% during the 4th quarter. Meeder Advisory Services Inc. now owns 13,679 shares of the company’s stock valued at $181,000 after buying an additional 2,675 shares during the period. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Trading Up 6.1%

Shares of NYSE:JOBY opened at $9.40 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of -8.17 and a beta of 2.66. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The company has a 50 day moving average price of $9.78 and a 200 day moving average price of $11.37.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, insider Eric Allison sold 74,844 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00. Following the sale, the insider owned 676,008 shares in the company, valued at approximately $6,760,080. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32. Following the sale, the director owned 55,911,391 shares in the company, valued at approximately $672,054,919.82. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,566,838 shares of company stock worth $16,167,306 over the last three months. Company insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Oppenheimer set a $18.00 target price on Joby Aviation in a report on Thursday, February 26th. Canaccord Genuity Group cut their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Morgan Stanley decreased their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.06.

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.