Commonwealth Equity Services LLC Purchases 41,128 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Commonwealth Equity Services LLC lifted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 67.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,399 shares of the company’s stock after buying an additional 41,128 shares during the period. Commonwealth Equity Services LLC’s holdings in Joby Aviation were worth $522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares in the last quarter. Integris Wealth Management LLC acquired a new stake in Joby Aviation during the 2nd quarter worth $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation during the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation during the second quarter worth $57,000. Finally, Private Advisor Group LLC bought a new stake in Joby Aviation in the 4th quarter valued at $77,000. Institutional investors own 45.54% of the company’s stock.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $5.16 on Friday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -6.79 and a beta of 1.97. The firm has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $5.22. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $7.69.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the company earned ($0.17) EPS. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 9th. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, HC Wainwright began coverage on shares of Joby Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price objective for the company.

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.