175,321 Shares in Joby Aviation, Inc. $JOBY Acquired by Kemnay Advisory Services Inc.

Key Points

• Kemnay Advisory Services bought a new position of 175,321 shares of Joby Aviation (≈$2.83M), about 0.4% of its portfolio and its 22nd largest holding, while institutional investors now own roughly 52.85% of the stock.
• Joby beat quarterly expectations with EPS of −$0.14 (vs. −$0.20 est.) and reported revenue of $30.84M (vs. $16.88M est.), a reported 5,506% year‑over‑year increase, though analysts still forecast about −0.69 EPS for the fiscal year.
• There was heavy insider selling last quarter—insiders disposed of 1,470,074 shares worth ~$16.08M—leaving insiders with roughly 28.50% ownership.

Kemnay Advisory Services Inc. purchased a new position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 175,321 shares of the company's stock, valued at approximately $2,830,000. Joby Aviation makes up approximately 0.4% of Kemnay Advisory Services Inc.'s portfolio, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC grew its position in Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company's stock valued at $61,000 after purchasing an additional 697 shares during the period. Asset Planning Inc increased its position in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company's stock worth $27,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Joby Aviation by 4.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company's stock worth $270,000 after acquiring an additional 736 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Joby Aviation by 11.9% in the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company's stock worth $76,000 after acquiring an additional 763 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its position in Joby Aviation by 15.3% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company's stock valued at $93,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Joby Aviation Stock Down 0.5%

Shares of NYSE JOBY opened at $9.57 on Friday. The company has a market capitalization of $8.72 billion, a PE ratio of -8.39 and a beta of 2.59. The stock's 50 day moving average price is $12.15 and its 200-day moving average price is $14.10. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. The business had revenue of $30.84 million for the quarter, compared to analysts' expectations of $16.88 million. The business's revenue was up 5506.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.34) earnings per share. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Kate Dehoff sold 8,539 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $9.88, for a total transaction of $84,365.32. Following the completion of the transaction, the insider owned 159,877 shares in the company, valued at approximately $1,579,584.76. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Bowles sold 11,530 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $9.62, for a total transaction of $110,918.60. Following the transaction, the insider owned 170,360 shares of the company's stock, valued at approximately $1,638,863.20. The trade was a 6.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,470,074 shares of company stock worth $16,083,913. 28.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HC Wainwright upgraded Joby Aviation from a "neutral" rating to a "buy" rating and set a $18.00 price target for the company in a research note on Thursday, February 26th. Canaccord Genuity Group restated a "hold" rating and issued a $15.50 target price on shares of Joby Aviation in a report on Tuesday, February 3rd. Needham & Company LLC cut their target price on Joby Aviation to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating for the company in a report on Thursday, February 26th. Finally, The Goldman Sachs Group began coverage on Joby Aviation in a research report on Monday, December 1st. They issued a "sell" rating and a $10.00 price target for the company. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $13.81.

Joby Aviation Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.

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