AlphaQuest LLC Buys 3,773 Shares of Joby Aviation, Inc. $JOBY

AlphaQuest LLC boosted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 225.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,444 shares of the company’s stock after buying an additional 3,773 shares during the period. AlphaQuest LLC’s holdings in Joby Aviation were worth $57,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after purchasing an additional 5,015 shares during the period. Strs Ohio bought a new stake in Joby Aviation in the first quarter worth about $37,000. Ameritas Advisory Services LLC bought a new stake in Joby Aviation in the second quarter worth about $39,000. Hollencrest Capital Management purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $43,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Joby Aviation during the first quarter valued at approximately $60,000. Institutional investors own 52.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 15,439 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $259,066.42. Following the transaction, the insider directly owned 103,206 shares of the company’s stock, valued at approximately $1,731,796.68. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kate Dehoff sold 52,907 shares of Joby Aviation stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $15.76, for a total value of $833,814.32. Following the sale, the insider directly owned 149,369 shares of the company’s stock, valued at $2,354,055.44. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,657,424 shares of company stock valued at $25,068,869. Corporate insiders own 28.50% of the company’s stock.

Joby Aviation Stock Performance

Shares of JOBY opened at $14.31 on Friday. The company has a 50 day moving average price of $15.71 and a 200-day moving average price of $12.74. Joby Aviation, Inc. has a fifty-two week low of $4.87 and a fifty-two week high of $20.95. The stock has a market capitalization of $12.25 billion, a PE ratio of -10.68 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. The company’s quarterly revenue was up 7962.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JOBY. JPMorgan Chase & Co. raised their price target on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday. Finally, Wall Street Zen lowered shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus price target of $14.00.

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.