175,321 Shares in Joby Aviation, Inc. $JOBY Acquired by Kemnay Advisory Services Inc.

Kemnay Advisory Services Inc. acquired a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 175,321 shares of the company’s stock, valued at approximately $2,830,000. Joby Aviation accounts for 0.4% of Kemnay Advisory Services Inc.’s portfolio, making the stock its 22nd biggest position.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the period. Asset Planning Inc grew its stake in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the period. Canton Hathaway LLC purchased a new stake in Joby Aviation in the 3rd quarter worth about $29,000. Hilltop National Bank purchased a new stake in Joby Aviation in the 3rd quarter worth about $32,000. Finally, GPS Wealth Strategies Group LLC raised its stake in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Needham & Company LLC cut their target price on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Canaccord Genuity Group restated a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a research note on Tuesday, February 3rd. The Goldman Sachs Group began coverage on shares of Joby Aviation in a research note on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Trading Down 0.5%

Shares of Joby Aviation stock opened at $9.57 on Friday. The company’s 50-day moving average price is $12.15 and its 200-day moving average price is $14.10. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95. The company has a market cap of $8.72 billion, a price-to-earnings ratio of -8.39 and a beta of 2.59.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $30.84 million for the quarter, compared to analysts’ expectations of $16.88 million. Joby Aviation’s revenue was up 5506.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) EPS. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other news, insider Eric Allison sold 32,448 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $13.25, for a total transaction of $429,936.00. Following the completion of the transaction, the insider directly owned 659,980 shares in the company, valued at $8,744,735. The trade was a 4.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the transaction, the insider directly owned 125,114 shares in the company, valued at approximately $1,732,828.90. The trade was a 46.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,470,074 shares of company stock valued at $16,083,913 in the last quarter. 28.50% of the stock is currently owned by company insiders.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.