Toyota Motor Corp Buys 49,701,790 Shares of Joby Aviation, Inc. $JOBY

Toyota Motor Corp lifted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 63.1% in the second quarter, HoldingsChannel reports. The firm owned 128,454,401 shares of the company’s stock after acquiring an additional 49,701,790 shares during the quarter. Joby Aviation makes up about 36.0% of Toyota Motor Corp’s investment portfolio, making the stock its biggest position. Toyota Motor Corp owned about 0.16% of Joby Aviation worth $1,355,194,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in shares of Joby Aviation in the 2nd quarter valued at about $180,000. Prospera Financial Services Inc increased its stake in shares of Joby Aviation by 16.9% during the second quarter. Prospera Financial Services Inc now owns 21,202 shares of the company’s stock worth $224,000 after buying an additional 3,060 shares during the period. Modera Wealth Management LLC raised its holdings in Joby Aviation by 21.0% in the second quarter. Modera Wealth Management LLC now owns 51,575 shares of the company’s stock valued at $544,000 after acquiring an additional 8,967 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after acquiring an additional 750 shares during the last quarter. Finally, Ring Mountain Capital LLC acquired a new position in Joby Aviation during the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Up 4.2%

Shares of NYSE JOBY opened at $14.92 on Friday. The business has a 50-day moving average price of $15.72 and a 200 day moving average price of $12.80. The stock has a market cap of $12.77 billion, a PE ratio of -11.13 and a beta of 2.52. Joby Aviation, Inc. has a 52-week low of $4.96 and a 52-week high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to the consensus estimate of $0.02 million. The company’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. Sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Joby Aviation news, Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction on Monday, September 15th. The shares were sold at an average price of $14.30, for a total value of $7,150,014.30. Following the transaction, the director directly owned 56,328,057 shares in the company, valued at approximately $805,491,215.10. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 52,907 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $15.76, for a total transaction of $833,814.32. Following the completion of the sale, the insider directly owned 149,369 shares of the company’s stock, valued at $2,354,055.44. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,657,424 shares of company stock worth $25,068,869. Corporate insiders own 28.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JOBY shares. Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and raised their price objective for the company from $12.00 to $17.00 in a report on Thursday, August 7th. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. 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. JPMorgan Chase & Co. increased their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Finally, Wall Street Zen lowered Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average price target of $14.00.

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.