14,927 Shares in Joby Aviation, Inc. (NYSE:JOBY) Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,927 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Total Wealth Planning & Management Inc. purchased a new position in shares of Joby Aviation during the fourth quarter worth $285,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Joby Aviation during the fourth quarter worth $2,492,000. Carolinas Wealth Consulting LLC purchased a new position in shares of Joby Aviation during the fourth quarter worth $41,000. Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the fourth quarter worth $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Joby Aviation by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company’s stock valued at $3,617,000 after purchasing an additional 57,929 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Stock Performance

JOBY stock opened at $8.66 on Wednesday. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72. The stock’s 50 day moving average price is $7.09 and its 200 day moving average price is $7.38. The firm has a market cap of $6.86 billion, a P/E ratio of -10.31 and a beta of 2.39.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results 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 63.27% and a negative net margin of 447,083.78%. During the same period in the prior year, the firm posted ($0.14) earnings per share. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JOBY. Canaccord Genuity Group reiterated a “buy” rating and issued a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Cantor Fitzgerald downgraded Joby Aviation from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Thursday, June 12th. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.33.

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now owns 146,941 shares of the company’s stock, valued at approximately $996,259.98. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction dated 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 sale, the director now owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 755,633 shares of company stock worth $4,682,298. Corporate insiders own 32.40% of the company’s stock.

About Joby Aviation

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.