Joby Aviation, Inc. $JOBY Holdings Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 63.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,788 shares of the company’s stock after buying an additional 14,676 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Joby Aviation were worth $399,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. increased its position in shares of Joby Aviation by 35.1% during the 2nd quarter. NBC Securities Inc. now owns 142,855 shares of the company’s stock valued at $1,507,000 after purchasing an additional 37,120 shares during the period. Rhumbline Advisers boosted its stake in Joby Aviation by 5.4% during the first quarter. Rhumbline Advisers now owns 626,743 shares of the company’s stock valued at $3,773,000 after buying an additional 32,324 shares in the last quarter. Strs Ohio bought a new position in Joby Aviation during the first quarter valued at about $37,000. Intech Investment Management LLC grew its holdings in Joby Aviation by 70.4% during the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after acquiring an additional 126,908 shares during the period. Finally, Integrity Alliance LLC. bought a new stake in Joby Aviation in the first quarter worth about $124,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 173,456 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the transaction, the insider owned 211,397 shares in the company, valued at $3,646,598.25. This represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Allison sold 27,538 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86. Following the transaction, the insider owned 660,076 shares in the company, valued at $7,901,109.72. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,330,881 shares of company stock valued at $33,997,315 in the last ninety days. 32.40% of the stock is currently owned by insiders.

Joby Aviation Trading Up 7.2%

JOBY opened at $19.58 on Tuesday. The stock has a fifty day moving average price of $15.75 and a 200 day moving average price of $11.11. Joby Aviation, Inc. has a 1 year low of $4.80 and a 1 year high of $20.95. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of -18.30 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last issued its earnings results 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). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Joby Aviation’s revenue was down 94.6% on a year-over-year basis. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research reports. Cantor Fitzgerald restated a “neutral” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $10.50.

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.