Blair William & Co. IL Has $250,000 Holdings in Joby Aviation, Inc. $JOBY

Key Points

• Blair William & Co. IL reduced its holdings in Joby Aviation by 94.9%, owning only 23,671 shares worth $250,000 after selling 444,977 shares in the second quarter.
• Insider Bonny W. Simi sold 173,456 shares of Joby Aviation, representing a 45.07% decrease in their ownership, while Eric Allison sold 27,537 shares at a value of around $463,723.
• Analysts have generally downgraded Joby Aviation, with Wall Street Zen changing its rating to "sell" and JPMorgan raising the target price from $5.00 to $7.00, reflecting mixed sentiments in the market.

Blair William & Co. IL cut its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 94.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,671 shares of the company's stock after selling 444,977 shares during the quarter. Blair William & Co. IL's holdings in Joby Aviation were worth $250,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after buying an additional 5,015 shares during the last quarter. Strs Ohio acquired a new position in shares of Joby Aviation in the first quarter valued at $37,000. Ameritas Advisory Services LLC acquired a new position in shares of Joby Aviation in the second quarter valued at $39,000. Decker Retirement Planning Inc. raised its stake in shares of Joby Aviation by 250.0% in the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Joby Aviation in the first quarter valued at $43,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Bonny W. Simi sold 173,456 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $17.25, for a total value of $2,992,116.00. Following the transaction, the insider owned 211,397 shares in the company, valued at $3,646,598.25. This trade represents a 45.07% 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, insider Eric Allison sold 27,537 shares of the firm's stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the transaction, the insider owned 692,428 shares in the company, valued at approximately $11,660,487.52. This represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,830,880 shares of company stock valued at $28,060,985 over the last 90 days. Corporate insiders own 28.50% of the company's stock.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $15.68 on Friday. The stock's fifty day moving average is $15.62 and its 200-day moving average is $11.75. The stock has a market capitalization of $13.42 billion, a PE ratio of -14.65 and a beta of 2.52. Joby Aviation, Inc. has a 52 week low of $4.80 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. The business's revenue was down 94.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) EPS. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on JOBY shares. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. upped their target price on Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. Canaccord Genuity Group lowered Joby Aviation from a "buy" rating to a "hold" rating and upped their target price for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, Zacks Research cut Joby Aviation from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $11.83.

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.

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