IFP Advisors Inc Increases Holdings in Joby Aviation, Inc. $JOBY

IFP Advisors Inc raised its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 137.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 9,030 shares of the company’s stock after buying an additional 5,234 shares during the quarter. IFP Advisors Inc’s holdings in Joby Aviation were worth $95,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JOBY. Nuveen LLC purchased a new stake in Joby Aviation during the first quarter worth approximately $18,936,000. Invesco Ltd. raised its holdings in Joby Aviation by 16.1% during the first quarter. Invesco Ltd. now owns 972,517 shares of the company’s stock worth $5,855,000 after purchasing an additional 134,982 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Joby Aviation by 70.4% during the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after buying an additional 126,908 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Joby Aviation by 56.1% in the 1st quarter. LPL Financial LLC now owns 253,925 shares of the company’s stock valued at $1,529,000 after buying an additional 91,278 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Joby Aviation by 16.6% in 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 buying an additional 71,695 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Down 2.4%

Shares of JOBY stock opened at $15.68 on Monday. The company has a market capitalization of $13.42 billion, a P/E ratio of -14.65 and a beta of 2.52. The business’s 50 day moving average is $15.62 and its two-hundred day moving average is $11.79. Joby Aviation, Inc. has a twelve month low of $4.80 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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. During the same period in the previous year, the business earned ($0.18) EPS. Joby Aviation’s revenue was down 94.6% on a year-over-year basis. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on JOBY shares. Zacks Research lowered shares of Joby Aviation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Canaccord Genuity Group cut Joby Aviation from a “buy” rating to a “hold” rating and upped their target price for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.83.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 32,284 shares of the firm’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 completion of the sale, the chief executive officer owned 249,587 shares in the company, valued at $4,188,069.86. This trade 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 is available at this link. Also, insider Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.09, for a total value of $86,397.84. Following the completion of the sale, the insider directly owned 156,464 shares in the company, valued at $2,830,433.76. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,830,880 shares of company stock valued at $28,060,985. Corporate 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.