Modera Wealth Management LLC Purchases 8,967 Shares of Joby Aviation, Inc. $JOBY

Modera Wealth Management LLC lifted its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 21.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,575 shares of the company’s stock after purchasing an additional 8,967 shares during the quarter. Modera Wealth Management LLC’s holdings in Joby Aviation were worth $544,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew its holdings 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 valued at $33,000 after acquiring an additional 750 shares in the last quarter. Ring Mountain Capital LLC acquired a new stake in Joby Aviation in the 2nd quarter worth about $211,000. Huntington National Bank lifted its position in shares of Joby Aviation by 333,800.0% during the 2nd quarter. Huntington National Bank now owns 6,678 shares of the company’s stock valued at $70,000 after acquiring an additional 6,676 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Joby Aviation by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,431,592 shares of the company’s stock worth $15,103,000 after acquiring an additional 83,101 shares during the period. Finally, Arbor Capital Management Inc. ADV acquired a new stake in Joby Aviation in the second quarter valued at about $106,000. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JOBY. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. HC Wainwright cut shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Morgan Stanley boosted their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Finally, Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $14.00.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 20,824 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total transaction of $364,003.52. Following the sale, the insider owned 149,369 shares in the company, valued at $2,610,970.12. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 32,284 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $541,725.52. Following the completion of the transaction, the chief executive officer owned 249,587 shares of the company’s stock, valued at $4,188,069.86. The trade was a 11.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,657,424 shares of company stock worth $25,068,869 in the last three months. 28.50% of the stock is owned by insiders.

Joby Aviation Stock Up 4.2%

NYSE:JOBY opened at $14.92 on Monday. The business’s 50-day moving average price is $15.72 and its two-hundred day moving average price is $12.90. The stock has a market cap of $12.77 billion, a P/E ratio of -11.13 and a beta of 2.52. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95.

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

Joby Aviation 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.