Janney Montgomery Scott LLC Has $1.28 Million Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Janney Montgomery Scott LLC lessened its stake in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,067 shares of the company's stock after selling 26,836 shares during the period. Janney Montgomery Scott LLC's holdings in Joby Aviation were worth $1,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of JOBY. Raymond James Financial Inc. purchased a new position in Joby Aviation during the 4th quarter valued at about $2,168,000. Wealth Enhancement Advisory Services LLC purchased a new position in Joby Aviation during the 4th quarter valued at about $121,000. Charles Schwab Investment Management Inc. grew its stake in Joby Aviation by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock valued at $31,661,000 after acquiring an additional 361,520 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Joby Aviation during the 4th quarter valued at about $311,000. Finally, Deutsche Bank AG grew its stake in Joby Aviation by 26.0% during the 4th quarter. Deutsche Bank AG now owns 350,784 shares of the company's stock valued at $2,852,000 after acquiring an additional 72,329 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Motor Corp/ Toyota purchased 49,701,790 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the acquisition, the director directly owned 122,573,621 shares in the company, valued at $616,545,313.63. This represents a 68.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bonny W. Simi sold 12,382 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $5.81, for a total value of $71,939.42. Following the transaction, the insider owned 203,588 shares of the company's stock, valued at approximately $1,182,846.28. This trade represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 662,605 shares of company stock worth $4,814,069. 32.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on JOBY. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, June 23rd. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research note on Wednesday, June 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $13.00 price target (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Joby Aviation presently has a consensus rating of "Hold" and an average target price of $9.33.

Joby Aviation Price Performance

JOBY traded down $0.72 on Tuesday, hitting $9.83. The company had a trading volume of 33,518,074 shares, compared to its average volume of 14,786,293. The company's fifty day moving average price is $7.65 and its 200 day moving average price is $7.43. Joby Aviation, Inc. has a 1-year low of $4.66 and a 1-year high of $11.16. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of -11.70 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period last year, the company posted ($0.14) earnings per share. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.