Atria Wealth Solutions Inc. Invests $401,000 in Joby Aviation, Inc. (NYSE:JOBY)

Atria Wealth Solutions Inc. bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 66,604 shares of the company's stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock worth $175,000 after buying an additional 1,935 shares during the last quarter. Xponance Inc. grew its stake in Joby Aviation by 6.5% during the 1st quarter. Xponance Inc. now owns 32,635 shares of the company's stock valued at $196,000 after purchasing an additional 1,993 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company's stock valued at $543,000 after buying an additional 2,000 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock valued at $1,512,000 after buying an additional 2,065 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Joby Aviation by 23.6% in the 1st quarter. Brown Advisory Inc. now owns 13,905 shares of the company's stock valued at $84,000 after buying an additional 2,655 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Trading Down 4.5%

JOBY traded down $0.79 on Friday, hitting $16.58. 37,017,421 shares of the company were exchanged, compared to its average volume of 36,805,464. The firm has a 50-day moving average price of $13.46 and a two-hundred day moving average price of $9.09. Joby Aviation, Inc. has a twelve month low of $4.70 and a twelve month high of $20.95. The company has a market cap of $13.13 billion, a price-to-earnings ratio of -15.50 and a beta of 2.52.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%. Joby Aviation's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.18) EPS. Equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of recent analyst reports. Canaccord Genuity Group downgraded Joby Aviation from a "buy" rating to a "hold" rating and increased their price target for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. HC Wainwright cut Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Joby Aviation currently has a consensus rating of "Hold" and a consensus target price of $10.50.

Insider Buying and Selling at Joby Aviation

In other news, insider Bonny W. Simi sold 300,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.79, for a total transaction of $3,237,000.00. Following the completion of the transaction, the insider directly owned 203,588 shares of the company's stock, valued at approximately $2,196,714.52. This represents a 59.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 472,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $9.82, for a total value of $4,635,040.00. Following the completion of the sale, the chief executive officer directly owned 360,999 shares of the company's stock, valued at approximately $3,545,010.18. This trade represents a 56.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,936,558 shares of company stock worth $21,551,263. Corporate insiders own 28.50% of the company's stock.

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.