Captrust Financial Advisors Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

Captrust Financial Advisors purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,216 shares of the company’s stock, valued at approximately $172,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rheos Capital Works Inc. increased its stake in Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Joby Aviation during the fourth quarter worth $300,000. Raymond James Financial Inc. acquired a new stake in Joby Aviation in the fourth quarter valued at $2,168,000. Charles Schwab Investment Management Inc. lifted its holdings in Joby Aviation by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after acquiring an additional 361,520 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Joby Aviation in the fourth quarter valued at $311,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Stock Performance

NYSE:JOBY opened at $6.64 on Friday. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of -9.49 and a beta of 2.34. The business has a fifty day moving average of $6.33 and a 200-day moving average of $7.16.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period last year, the business earned ($0.14) earnings per share. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 166,667 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares of the company’s stock, valued at $396,594,255.84. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 101,652 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $6.66, for a total transaction of $677,002.32. Following the completion of the sale, the chief executive officer now owns 60,526,762 shares of the company’s stock, valued at $403,108,234.92. The trade was a 0.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 753,766 shares of company stock valued at $4,659,968. Company insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Joby Aviation from $11.50 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Monday, May 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

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.