Harbour Investments Inc. Acquires 1,664 Shares of Joby Aviation, Inc. $JOBY

Harbour Investments Inc. grew its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 34.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,489 shares of the company’s stock after purchasing an additional 1,664 shares during the quarter. Harbour Investments Inc.’s holdings in Joby Aviation were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. RFG Advisory LLC bought a new position in shares of Joby Aviation during the 2nd quarter worth approximately $501,000. CWM LLC boosted its holdings in shares of Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after buying an additional 689 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Joby Aviation by 18.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 56,870 shares of the company’s stock worth $600,000 after buying an additional 8,750 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Joby Aviation during the 2nd quarter worth approximately $119,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Joby Aviation during the 2nd quarter worth approximately $304,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Up 1.2%

Shares of JOBY opened at $15.65 on Friday. Joby Aviation, Inc. has a 12-month low of $4.80 and a 12-month high of $20.95. The business’s fifty day moving average is $15.51 and its 200 day moving average is $12.00. The stock has a market cap of $13.40 billion, a P/E ratio of -14.63 and a beta of 2.52.

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

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 27,537 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $16.84, for a total transaction of $463,723.08. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 253,600 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $16.29, for a total value of $4,131,144.00. Following the transaction, the chief executive officer owned 60,273,162 shares in the company, valued at approximately $981,849,808.98. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,830,880 shares of company stock worth $28,060,985. 28.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Morgan Stanley increased their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $11.83.

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.