Ieq Capital LLC Buys 1,807,054 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Ieq Capital LLC increased its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 68.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,441,574 shares of the company’s stock after buying an additional 1,807,054 shares during the quarter. Ieq Capital LLC owned 0.63% of Joby Aviation worth $22,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Integris Wealth Management LLC bought a new position in Joby Aviation in the 2nd quarter valued at $54,000. Dakota Wealth Management bought a new stake in shares of Joby Aviation during the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Joby Aviation during the second quarter worth $57,000. Finally, Private Advisor Group LLC bought a new stake in shares of Joby Aviation during the fourth quarter worth $77,000. Institutional investors own 45.54% of the company’s stock.

Joby Aviation Price Performance

JOBY stock opened at $5.19 on Friday. The stock has a market capitalization of $3.72 billion, a P/E ratio of -6.83 and a beta of 1.97. The business has a 50-day moving average of $5.51 and a 200-day moving average of $5.22. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $7.69.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company earned ($0.17) earnings per share. Equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HC Wainwright assumed coverage on Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price for the company. Canaccord Genuity Group dropped their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 9th.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at $265,676.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the sale, the chief executive officer now owns 32,724,274 shares in the company, valued at $159,039,971.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,840 shares of company stock valued at $1,624,660. Insiders own 32.40% of the company’s stock.

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.