EP Wealth Advisors LLC Buys 3,909 Shares of Joby Aviation, Inc. $JOBY

EP Wealth Advisors LLC boosted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,407 shares of the company’s stock after acquiring an additional 3,909 shares during the quarter. EP Wealth Advisors LLC’s holdings in Joby Aviation were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JOBY. Toyota Motor Corp bought a new stake in shares of Joby Aviation in the 4th quarter worth about $640,259,000. Nuveen Asset Management LLC boosted its position in Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after buying an additional 3,272,597 shares in the last quarter. Nuveen LLC bought a new stake in Joby Aviation during the first quarter worth about $18,936,000. Rheos Capital Works Inc. increased its holdings in shares of Joby Aviation by 89.4% during the first quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company’s stock worth $27,421,000 after buying an additional 2,150,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Joby Aviation by 31.4% in the first quarter. Exchange Traded Concepts LLC now owns 1,724,888 shares of the company’s stock valued at $10,384,000 after acquiring an additional 411,691 shares during the last quarter. 52.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of research analyst reports. Wall Street Zen lowered Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and raised their target price for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.50.

Joby Aviation Trading Down 0.2%

Joby Aviation stock opened at $13.40 on Wednesday. Joby Aviation, Inc. has a 1 year low of $4.78 and a 1 year high of $20.95. The company’s 50-day moving average is $15.18 and its two-hundred day moving average is $9.85. The company has a market cap of $11.47 billion, a PE ratio of -12.52 and a beta of 2.50.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was down 94.6% on a year-over-year basis. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other Joby Aviation news, insider Bonny W. Simi sold 300,000 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.79, for a total transaction of $3,237,000.00. Following the transaction, the insider owned 203,588 shares in the company, valued at approximately $2,196,714.52. This trade represents a 59.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Allison sold 27,538 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $11.97, for a total value of $329,629.86. Following the transaction, the insider owned 660,076 shares of the company’s stock, valued at $7,901,109.72. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,444,313 shares of company stock worth $28,868,184 over the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

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.