Joby Aviation, Inc. (NYSE:JOBY) Position Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 266,882 shares of the company’s stock after acquiring an additional 34,866 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Joby Aviation were worth $1,342,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC boosted its stake in Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the period. Rhumbline Advisers raised its holdings in shares of Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after buying an additional 115,483 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the period. ProShare Advisors LLC grew its holdings in Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after buying an additional 3,942 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after acquiring an additional 5,025 shares during the period. Institutional investors own 45.54% of the company’s stock.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $5.92 on Friday. The business’s fifty day moving average is $5.39 and its 200-day moving average is $5.33. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $7.69. The stock has a market cap of $4.24 billion, a PE ratio of -8.53 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the company posted ($0.13) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -0.68 earnings per share for the current year.

Analysts Set New Price Targets

JOBY has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock valued at $2,667,151 over the last ninety days. 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.