Modera Wealth Management LLC Raises Position in Joby Aviation, Inc. $JOBY

Modera Wealth Management LLC raised its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,575 shares of the company’s stock after buying an additional 8,967 shares during the period. Modera Wealth Management LLC’s holdings in Joby Aviation were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of Joby Aviation in the 1st quarter valued at about $168,000. Bank of New York Mellon Corp grew its position in Joby Aviation by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,348,491 shares of the company’s stock worth $8,118,000 after acquiring an additional 69,464 shares during the last quarter. Brown Advisory Inc. increased its stake in Joby Aviation by 23.6% in the 1st quarter. Brown Advisory Inc. now owns 13,905 shares of the company’s stock worth $84,000 after purchasing an additional 2,655 shares during the period. Nisa Investment Advisors LLC lifted its position in Joby Aviation by 685.0% in the first quarter. Nisa Investment Advisors LLC now owns 75,315 shares of the company’s stock valued at $453,000 after purchasing an additional 65,721 shares during the last quarter. Finally, Xponance Inc. lifted its position in Joby Aviation by 6.5% in the first quarter. Xponance Inc. now owns 32,635 shares of the company’s stock valued at $196,000 after purchasing an additional 1,993 shares during the last quarter. 52.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 32,284 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $541,725.52. Following the sale, the chief executive officer owned 249,587 shares in the company, valued at approximately $4,188,069.86. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kate Dehoff sold 20,824 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total transaction of $364,003.52. Following the transaction, the insider directly owned 149,369 shares of the company’s stock, valued at $2,610,970.12. This represents a 12.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,657,424 shares of company stock valued at $25,068,869 over the last three months. 28.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JOBY has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Finally, Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One 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, Joby Aviation has an average rating of “Reduce” and a consensus price target of $14.00.

Joby Aviation Trading Up 4.2%

NYSE:JOBY opened at $14.92 on Monday. The company has a 50-day moving average price of $15.72 and a 200-day moving average price of $12.90. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of -11.13 and a beta of 2.52. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. The business’s quarterly revenue was up 7962.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) earnings per share. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal 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.