Southeast Asset Advisors LLC Grows Stock Holdings in Joby Aviation, Inc. $JOBY

Southeast Asset Advisors LLC raised its stake in Joby Aviation, Inc. (NYSE:JOBY) by 28.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,233 shares of the company’s stock after buying an additional 6,000 shares during the period. Southeast Asset Advisors LLC’s holdings in Joby Aviation were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Toyota Motor Corp grew its holdings in shares of Joby Aviation by 63.1% in the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after acquiring an additional 49,701,790 shares during the period. Geode Capital Management LLC grew its holdings in Joby Aviation by 5.4% in the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after purchasing an additional 573,328 shares during the last quarter. Rheos Capital Works Inc. raised its stake in shares of Joby Aviation by 58.2% during 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. ARK Investment Management LLC boosted its position in shares of Joby Aviation by 1.9% in the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after buying an additional 64,562 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Joby Aviation in the 1st quarter valued at about $18,936,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 52,907 shares of Joby Aviation stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $15.76, for a total transaction of $833,814.32. Following the transaction, the insider directly owned 149,369 shares of the company’s stock, valued at $2,354,055.44. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Cahill Sciarra sold 500,001 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the completion of the sale, the director owned 56,328,057 shares in the company, valued at approximately $805,491,215.10. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,146,267 shares of company stock valued at $17,729,562. Corporate insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation has a consensus rating of “Reduce” and an average target price of $14.00.

Joby Aviation Trading Up 6.4%

JOBY stock opened at $13.91 on Tuesday. The firm’s 50-day moving average is $15.93 and its two-hundred day moving average is $13.52. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -10.38 and a beta of 2.52. Joby Aviation, Inc. has a 52 week low of $4.96 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Thursday, November 6th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.