Inspire Advisors LLC Buys Shares of 11,649 Joby Aviation, Inc. $JOBY

Inspire Advisors LLC purchased a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,649 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors have also recently made changes to their positions in JOBY. CWM LLC lifted its stake in Joby Aviation by 8.1% in the second quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after acquiring an additional 689 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares during the period. Allworth Financial LP boosted its stake in shares of Joby Aviation by 11.9% during the second quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after purchasing an additional 763 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Joby Aviation by 2.6% during the second quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock valued at $335,000 after purchasing an additional 800 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Joby Aviation by 1.1% during the second quarter. Nisa Investment Advisors LLC now owns 76,179 shares of the company’s stock valued at $804,000 after buying an additional 864 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen lowered Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley increased their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $14.00.

Joby Aviation Price Performance

Shares of JOBY stock opened at $13.02 on Friday. The stock’s fifty day moving average price is $15.95 and its 200 day moving average price is $13.32. Joby Aviation, Inc. has a 1-year low of $4.96 and a 1-year high of $20.95. The company has a market cap of $11.88 billion, a price-to-earnings ratio of -9.72 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Thursday, November 6th. 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. The business’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 27,537 shares of the firm’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the transaction, the insider owned 692,428 shares of the company’s stock, valued at approximately $11,660,487.52. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 253,600 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $16.29, for a total transaction of $4,131,144.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 1,654,022 shares of company stock worth $25,019,336 over the last ninety days. 28.50% of the stock is currently owned by insiders.

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.