Brown Advisory Inc. Purchases 2,655 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Brown Advisory Inc. lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 23.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,905 shares of the company’s stock after purchasing an additional 2,655 shares during the quarter. Brown Advisory Inc.’s holdings in Joby Aviation were worth $84,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in shares of Joby Aviation during the fourth quarter valued at $38,000. Toronto Dominion Bank bought a new position in shares of Joby Aviation during the fourth quarter valued at $41,000. Carolinas Wealth Consulting LLC bought a new position in shares of Joby Aviation during the fourth quarter valued at $41,000. GAMMA Investing LLC increased its holdings in shares of Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after acquiring an additional 5,015 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Joby Aviation by 195.8% during the fourth quarter. Covestor Ltd now owns 6,022 shares of the company’s stock valued at $50,000 after acquiring an additional 3,986 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $16.38 on Thursday. The company has a market cap of $12.97 billion, a P/E ratio of -19.50 and a beta of 2.47. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $16.48. The stock’s fifty day moving average price is $8.96 and its 200-day moving average price is $7.74.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned ($0.14) EPS. On average, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JOBY shares. Morgan Stanley restated an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Canaccord Genuity Group restated a “buy” rating and set a $12.00 price target on shares of Joby Aviation in a report on Wednesday, June 4th. Cantor Fitzgerald restated a “neutral” rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. HC Wainwright restated a “buy” rating and set a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Finally, Wall Street Zen upgraded Joby Aviation from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.33.

Insider Activity

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the transaction, the director directly owned 57,328,059 shares of the company’s stock, valued at $709,721,370.42. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Allison sold 27,538 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.97, for a total value of $329,629.86. Following the completion of the transaction, the insider directly owned 660,076 shares in the company, valued at approximately $7,901,109.72. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,034,320 shares of company stock valued at $20,211,444. Corporate insiders own 28.50% of the company’s stock.

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.