CreativeOne Wealth LLC Cuts Stock Position in Joby Aviation, Inc. $JOBY

CreativeOne Wealth LLC cut its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 67.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,270 shares of the company's stock after selling 25,850 shares during the period. CreativeOne Wealth LLC's holdings in Joby Aviation were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of JOBY. GAMMA Investing LLC increased its stake in 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 purchasing an additional 5,015 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $41,000. Carolinas Wealth Consulting LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $41,000. Decker Retirement Planning Inc. increased its stake in shares of Joby Aviation by 250.0% during the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock worth $42,000 after buying an additional 5,000 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in shares of Joby Aviation during the first quarter worth approximately $43,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Trading Down 2.3%

JOBY stock opened at $13.07 on Thursday. The company has a market capitalization of $11.19 billion, a P/E ratio of -12.21 and a beta of 2.50. Joby Aviation, Inc. has a twelve month low of $4.70 and a twelve month high of $20.95. The business has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $9.68.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. Joby Aviation's revenue was down 94.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kate Dehoff sold 20,823 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the sale, the insider directly owned 202,276 shares of the company's stock, valued at approximately $2,765,112.92. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Allison sold 27,538 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $11.97, for a total value of $329,629.86. Following the completion of the sale, the insider directly owned 660,076 shares of the company's stock, valued at $7,901,109.72. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,444,313 shares of company stock valued at $28,868,184. 32.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Canaccord Genuity Group lowered shares of Joby Aviation from a "buy" rating to a "hold" rating and upped their target price for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright lowered shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $10.50.

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.

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