NorthRock Partners LLC Sells 1,000 Shares of Joby Aviation, Inc. $JOBY

NorthRock Partners LLC lessened its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,032 shares of the company’s stock after selling 1,000 shares during the quarter. NorthRock Partners LLC’s holdings in Joby Aviation were worth $106,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Joby Aviation by 5,161.0% in the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after buying an additional 33,443 shares in the last quarter. Intech Investment Management LLC lifted its stake in Joby Aviation by 70.4% in the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after purchasing an additional 126,908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Joby Aviation by 16.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company’s stock valued at $3,050,000 after purchasing an additional 71,695 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Joby Aviation by 54.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,112 shares of the company’s stock worth $139,000 after buying an additional 8,185 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Joby Aviation by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,663 shares of the company’s stock worth $431,000 after acquiring an additional 7,607 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 5,102 shares of the company’s 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 in the company, valued at $1,773,720.32. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gregory Bowles sold 4,776 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $18.09, for a total value of $86,397.84. Following the sale, the insider directly owned 156,464 shares in the company, valued at approximately $2,830,433.76. The trade was a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,830,880 shares of company stock valued at $28,060,985 over the last 90 days. Insiders own 28.50% of the company’s stock.

Joby Aviation Stock Down 2.4%

JOBY opened at $15.68 on Friday. The stock’s fifty day moving average is $15.62 and its two-hundred day moving average is $11.71. The company has a market capitalization of $13.42 billion, a P/E ratio of -14.65 and a beta of 2.52. Joby Aviation, Inc. has a 52 week low of $4.80 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. The company’s quarterly revenue was down 94.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. Equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JOBY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. Morgan Stanley boosted their target price on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Zacks Research downgraded Joby Aviation from a “hold” rating to a “strong sell” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus target price of $11.83.

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.