Monterey Private Wealth Inc. Takes $102,000 Position in Joby Aviation, Inc. (NYSE:JOBY)

Monterey Private Wealth Inc. bought a new position in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,522 shares of the company’s stock, valued at approximately $102,000.

Several other hedge funds and other institutional investors have also bought and sold shares of JOBY. Yarbrough Capital LLC bought a new stake in Joby Aviation in the fourth quarter worth $1,362,000. Bouvel Investment Partners LLC increased its holdings in shares of Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after buying an additional 1,715 shares during the period. Hamilton Lane Advisors LLC bought a new stake in shares of Joby Aviation in the 4th quarter valued at about $418,000. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the period. Finally, Watts Gwilliam & Co. LLC bought a new position in Joby Aviation during the 4th quarter worth approximately $154,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the sale, the insider now owns 29,235 shares in the company, valued at approximately $236,218.80. The trade was a 20.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,849 shares of company stock worth $5,601,747 in the last three months. 32.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JOBY shares. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC raised their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group upped their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Trading Down 2.3 %

Shares of NYSE JOBY opened at $8.18 on Tuesday. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $10.72. The company’s 50-day moving average is $7.97 and its 200 day moving average is $6.35.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the company posted ($0.13) EPS. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

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.