Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by Intel Corp

Intel Corp lowered its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,090,642 shares of the company’s stock after selling 2,615,819 shares during the period. Joby Aviation makes up 68.4% of Intel Corp’s holdings, making the stock its biggest holding. Intel Corp owned approximately 4.48% of Joby Aviation worth $206,753,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Joby Aviation by 20.6% in the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock worth $220,143,000 after acquiring an additional 5,819,837 shares during the last quarter. Baillie Gifford & Co. raised its stake in Joby Aviation by 10.3% in the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock valued at $374,531,000 after buying an additional 5,267,436 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Joby Aviation by 55.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,754,199 shares of the company’s stock valued at $24,215,000 after acquiring an additional 1,341,811 shares during the last quarter. Rheos Capital Works Inc. boosted its holdings in Joby Aviation by 113.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,055,000 shares of the company’s stock valued at $13,666,000 after purchasing an additional 1,090,000 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $3,534,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72. Following the completion of the sale, the chief executive officer now directly owns 662,605 shares in the company, valued at approximately $3,074,487.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Joby Aviation news, Director Paul Cahill Sciarra sold 202,080 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $5.07, for a total transaction of $1,024,545.60. Following the completion of the transaction, the director now directly owns 59,994,725 shares in the company, valued at approximately $304,173,255.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the sale, the chief executive officer now directly owns 662,605 shares in the company, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. Insiders have sold a total of 545,057 shares of company stock valued at $2,786,187 in the last ninety days. 49.50% of the stock is currently owned by company insiders.

Joby Aviation Trading Down 1.8 %

Shares of NYSE:JOBY traded down $0.09 during trading on Monday, reaching $4.95. The company had a trading volume of 5,158,372 shares, compared to its average volume of 4,873,384. The stock’s fifty day moving average price is $5.07 and its 200 day moving average price is $5.69. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $11.98.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same period in the previous year, the firm earned ($0.16) EPS. The firm’s revenue was down 97.5% on a year-over-year basis. Equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Joby Aviation 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.