Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 827,043 shares of the company’s stock after selling 8,739 shares during the quarter. HighTower Advisors LLC owned approximately 0.12% of Joby Aviation worth $4,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JOBY. Larson Financial Group LLC boosted its holdings in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in 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 during the last quarter. Empowered Funds LLC purchased a new stake in Joby Aviation in the 3rd quarter valued at $51,000. Sound Income Strategies LLC increased 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 worth $52,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Integris Wealth Management LLC purchased a new position in shares of Joby Aviation during the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on JOBY shares. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target 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. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Insiders Place Their Bets

In related news, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares of the company’s stock, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 535,526 shares of company stock worth $2,745,708 over the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Stock Down 7.3 %

JOBY opened at $7.92 on Thursday. The firm has a market cap of $6.06 billion, a P/E ratio of -11.31 and a beta of 2.31. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $9.33. The business has a fifty day simple moving average of $6.33 and a 200-day simple moving average of $5.67.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the company posted ($0.13) EPS. Sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.