Yarbrough Capital LLC Purchases New Shares in Joby Aviation, Inc. (NYSE:JOBY)

Yarbrough Capital LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 167,483 shares of the company’s stock, valued at approximately $1,362,000.

A number of other large investors have also modified their holdings of JOBY. Bouvel Investment Partners LLC raised its stake in shares of Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after buying an additional 1,715 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in Joby Aviation in the 4th quarter worth $418,000. Salem Investment Counselors Inc. raised its position in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in Joby Aviation during the fourth quarter valued at $154,000. Finally, Everence Capital Management Inc. purchased a new position in Joby Aviation during the fourth quarter valued at $142,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Price Performance

JOBY stock opened at $8.38 on Friday. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The firm has a market capitalization of $6.41 billion, a PE ratio of -11.96 and a beta of 2.33. The business has a 50 day simple moving average of $7.88 and a 200-day simple moving average of $6.29.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the company posted ($0.13) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JOBY. Needham & Company LLC boosted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the transaction, the insider now directly owns 50,902 shares in the company, valued at $509,020. This represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kate Dehoff sold 6,205 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.10, for a total value of $50,260.50. Following the completion of the sale, the insider now owns 215,947 shares in the company, valued at $1,749,170.70. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 640,849 shares of company stock worth $5,601,747 over the last quarter. 32.40% 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.