Southeast Asset Advisors LLC Has $287,000 Stock Holdings in Joby Aviation, Inc. $JOBY

Southeast Asset Advisors LLC boosted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 28.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,233 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Joby Aviation were worth $287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JOBY. GPS Wealth Strategies Group LLC raised its holdings in shares of Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares during the period. Ameritas Advisory Services LLC acquired a new position in Joby Aviation in the 2nd quarter worth about $39,000. Solstein Capital LLC acquired a new stake in Joby Aviation in the second quarter valued at approximately $47,000. Laurel Wealth Advisors LLC grew its position in Joby Aviation by 954.8% in the second quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company’s stock worth $57,000 after acquiring an additional 4,860 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Joby Aviation by 225.8% in the second quarter. AlphaQuest LLC now owns 5,444 shares of the company’s stock worth $57,000 after purchasing an additional 3,773 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and lifted their price objective for the company from $12.00 to $17.00 in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $14.00.

Joby Aviation Price Performance

JOBY stock opened at $13.91 on Tuesday. The stock has a market capitalization of $12.68 billion, a PE ratio of -10.38 and a beta of 2.52. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The company has a 50 day moving average price of $15.93 and a 200 day moving average price of $13.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same period last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was up 7962.1% on a year-over-year basis. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.08, for a total transaction of $92,244.16. Following the completion of the sale, the insider directly owned 98,104 shares of the company’s stock, valued at $1,773,720.32. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Allison sold 27,537 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the transaction, the insider owned 692,428 shares in the company, valued at approximately $11,660,487.52. This trade represents a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,146,267 shares of company stock valued at $17,729,562 over the last 90 days. Company insiders own 28.50% 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.