Exchange Traded Concepts LLC Sells 209,443 Shares of Joby Aviation, Inc. $JOBY

Key Points

• Exchange Traded Concepts LLC sold 209,443 shares of Joby Aviation in Q3, trimming its stake by 15.7% to 1,125,674 shares valued at about $18.17 million (≈0.13% of the company).
• There has been notable insider selling
• Joby shares opened at $14.75 with a market cap of $13.45 billion and a 52‑week range of $4.96–$20.95; the company missed Q3 EPS estimates (‑$0.48 vs. ‑$0.19) and the Street consensus is a “Reduce” rating with a $13.43 target.

Exchange Traded Concepts LLC lowered its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,125,674 shares of the company's stock after selling 209,443 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.13% of Joby Aviation worth $18,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after purchasing an additional 1,880 shares during the period. Hilltop National Bank acquired a new stake in shares of Joby Aviation in the third quarter valued at approximately $32,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock worth $33,000 after acquiring an additional 750 shares during the last quarter. Strs Ohio bought a new stake in Joby Aviation in the 1st quarter valued at $37,000. Finally, Ameritas Advisory Services LLC bought a new stake in Joby Aviation in the 2nd quarter valued at $39,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 1,979 shares of the company's stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $14.08, for a total transaction of $27,864.32. Following the completion of the sale, the insider directly owned 101,779 shares in the company, valued at $1,433,048.32. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kate Dehoff sold 20,824 shares of Joby Aviation stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total value of $364,003.52. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at approximately $2,610,970.12. The trade was a 12.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 588,994 shares of company stock worth $9,660,128. Insiders own 32.40% of the company's stock.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $14.75 on Tuesday. The stock has a market capitalization of $13.45 billion, a PE ratio of -11.01 and a beta of 2.53. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The business has a fifty day moving average price of $15.11 and a two-hundred day moving average price of $14.53.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm's quarterly revenue was up 7962.1% compared to the same quarter last year. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on JOBY shares. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Friday, October 31st. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on Joby Aviation in a report on Monday, December 1st. They set a "sell" rating and a $10.00 price objective for the company. HC Wainwright reiterated a "neutral" rating on shares of Joby Aviation in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Joby Aviation in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Joby Aviation has an average rating of "Reduce" and a consensus target price of $13.43.

Joby Aviation Company 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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