Stratos Wealth Partners LTD. Acquires 1,450 Shares of Joby Aviation, Inc. $JOBY

Stratos Wealth Partners LTD. grew its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,277 shares of the company’s stock after acquiring an additional 1,450 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Joby Aviation were worth $615,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of JOBY. Nuveen LLC bought a new stake in shares of Joby Aviation during the 1st quarter valued at about $18,936,000. Rheos Capital Works Inc. lifted its position in Joby Aviation by 58.2% in the 2nd 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. Invesco Ltd. lifted its position in Joby Aviation by 16.1% in the 1st quarter. Invesco Ltd. now owns 972,517 shares of the company’s stock worth $5,855,000 after buying an additional 134,982 shares during the last quarter. Intech Investment Management LLC lifted its position in Joby Aviation by 70.4% in 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. Finally, LPL Financial LLC lifted its position in Joby Aviation by 56.1% in the 1st quarter. LPL Financial LLC now owns 253,925 shares of the company’s stock worth $1,529,000 after buying an additional 91,278 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $15.65 on Friday. The business’s 50 day simple moving average is $15.51 and its two-hundred day simple moving average is $12.00. The stock has a market capitalization of $13.40 billion, a P/E ratio of -14.63 and a beta of 2.52. Joby Aviation, Inc. has a one year low of $4.80 and a one year high of $20.95.

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

Insider Activity

In other news, insider Eric Allison sold 27,537 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $11,660,487.52. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 253,600 shares of the business’s stock in a transaction that occurred 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 directly owned 60,273,162 shares in the company, valued at $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 ninety days, insiders sold 1,830,880 shares of company stock valued at $28,060,985. 28.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JOBY. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Zacks Research downgraded Joby Aviation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Morgan Stanley boosted their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation presently 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.