Ameritas Advisory Services LLC Makes New $39,000 Investment in Joby Aviation, Inc. $JOBY

Ameritas Advisory Services LLC bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,651 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Xponance Inc. lifted its stake in Joby Aviation by 6.5% in the first quarter. Xponance Inc. now owns 32,635 shares of the company’s stock worth $196,000 after acquiring an additional 1,993 shares during the period. Brown Advisory Inc. increased its position in shares of Joby Aviation by 23.6% during the first quarter. Brown Advisory Inc. now owns 13,905 shares of the company’s stock valued at $84,000 after buying an additional 2,655 shares during the period. Cobblestone Asset Management LLC lifted its holdings in Joby Aviation by 4.6% in the second quarter. Cobblestone Asset Management LLC now owns 64,250 shares of the company’s stock worth $678,000 after buying an additional 2,850 shares during the period. PNC Financial Services Group Inc. boosted its position in Joby Aviation by 23.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,928 shares of the company’s stock valued at $90,000 after acquiring an additional 2,877 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Joby Aviation by 5.6% during the 1st quarter. Arizona State Retirement System now owns 54,864 shares of the company’s stock valued at $330,000 after acquiring an additional 2,906 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $16.77 on Tuesday. Joby Aviation, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $20.95. The business has a 50-day simple moving average of $15.72 and a two-hundred day simple moving average of $11.49. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of -15.67 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue was down 94.6% on a year-over-year basis. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Canaccord Genuity Group cut shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley lifted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $11.83.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 5,102 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.08, for a total value of $92,244.16. Following the completion of the sale, the insider directly owned 98,104 shares in the company, valued at $1,773,720.32. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gregory Bowles sold 4,776 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.09, for a total value of $86,397.84. Following the completion of the sale, the insider owned 156,464 shares of the company’s stock, valued at $2,830,433.76. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,774,257 shares of company stock worth $27,094,126 over the last three months. 28.50% of the stock is currently owned by insiders.

Joby Aviation Company 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.