Janney Montgomery Scott LLC Lowers Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Janney Montgomery Scott LLC decreased its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,903 shares of the company’s stock after selling 27,979 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Joby Aviation were worth $1,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock valued at $1,266,000 after buying an additional 55,340 shares during the period. Algert Global LLC purchased a new stake in Joby Aviation during the second quarter valued at about $90,000. Sanctuary Advisors LLC acquired a new stake in Joby Aviation during the second quarter worth about $81,000. Handelsbanken Fonder AB raised its holdings in shares of Joby Aviation by 31.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 101,700 shares of the company’s stock worth $512,000 after purchasing an additional 24,500 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on JOBY shares. Needham & Company LLC raised their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Price Performance

NYSE:JOBY opened at $8.27 on Monday. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $10.72. The stock has a market cap of $6.32 billion, a P/E ratio of -11.81 and a beta of 2.33. The firm has a 50-day moving average of $8.39 and a two-hundred day moving average of $6.51.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business earned ($0.13) EPS. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the sale, the director now owns 58,994,729 shares of the company’s stock, valued at $471,957,832. The trade was a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the sale, the insider now owns 29,235 shares in the company, valued at $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 672,338 shares of company stock valued at $5,864,050 over the last ninety days. Corporate insiders own 32.40% of the company’s stock.

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.