Kaizen Financial Strategies Lowers Holdings in Joby Aviation, Inc. $JOBY

Kaizen Financial Strategies decreased its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 29.8% during the second quarter, Holdings Channel.com reports. The firm owned 11,804 shares of the company’s stock after selling 5,000 shares during the period. Kaizen Financial Strategies’ holdings in Joby Aviation were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Toyota Motor Corp lifted its position in shares of Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after buying an additional 49,701,790 shares in the last quarter. Geode Capital Management LLC lifted its stake in Joby Aviation by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after purchasing an additional 573,328 shares in the last quarter. Rheos Capital Works Inc. boosted its stake in Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after buying an additional 2,650,000 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Joby Aviation by 1.9% in the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after acquiring an additional 64,562 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Joby Aviation during the 1st quarter worth $18,936,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JOBY shares. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. Morgan Stanley upped their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $14.00.

Joby Aviation Stock Performance

NYSE:JOBY opened at $16.31 on Thursday. 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 $15.88 and a 200 day moving average price of $13.06. The stock has a market capitalization of $13.96 billion, a P/E ratio of -12.17 and a beta of 2.52.

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

Insider Activity

In related news, insider Kate Dehoff sold 52,907 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $15.76, for a total transaction of $833,814.32. Following the completion of the transaction, the insider directly owned 149,369 shares in the company, valued at $2,354,055.44. This trade represents a 26.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $14.30, for a total value of $7,150,014.30. Following the completion of the transaction, the director directly owned 56,328,057 shares of the company’s stock, valued at approximately $805,491,215.10. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,657,424 shares of company stock worth $25,068,869 in the last quarter. Insiders own 28.50% of the company’s stock.

About Joby Aviation

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.