Creek Drive Management Group LLC Takes $2.07 Million Position in Joby Aviation, Inc. $JOBY

Creek Drive Management Group LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 157,000 shares of the company’s stock, valued at approximately $2,072,000. Joby Aviation makes up 1.4% of Creek Drive Management Group LLC’s portfolio, making the stock its 22nd largest holding.

Several other large investors have also bought and sold shares of JOBY. Vanguard Group Inc. grew its holdings in Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the period. Geode Capital Management LLC lifted its holdings in Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after acquiring an additional 390,794 shares during the last quarter. State Street Corp lifted its holdings in Joby Aviation by 5.0% in the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after acquiring an additional 512,129 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock valued at $57,697,000 after purchasing an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock valued at $67,661,000 after purchasing an additional 1,223,412 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JOBY shares. Morgan Stanley lowered their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.06.

Insiders Place Their Bets

In other news, CFO Rodrigo Brumana sold 78,489 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $11.30, for a total transaction of $886,925.70. Following the sale, the chief financial officer owned 81,694 shares in the company, valued at $923,142.20. The trade was a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares of the company’s stock, valued at approximately $6,760,080. This trade represents a 9.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,567,987 shares of company stock valued at $16,177,273 over the last 90 days. 28.50% of the stock is owned by corporate insiders.

Joby Aviation Trading Down 0.0%

NYSE:JOBY opened at $10.00 on Friday. The stock has a fifty day simple moving average of $9.91 and a 200 day simple moving average of $11.20. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of -8.69 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 quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the previous year, the company earned ($0.11) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

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.