Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,731 shares of the company's stock after selling 31,275 shares during the quarter. Kingsview Wealth Management LLC's holdings in Joby Aviation were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake 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 valued at $34,000 after buying an additional 5,015 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $41,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $41,000. Decker Retirement Planning Inc. lifted its holdings 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 purchasing an additional 5,000 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Joby Aviation by 195.8% during the fourth quarter. Covestor Ltd now owns 6,022 shares of the company's stock worth $50,000 after purchasing an additional 3,986 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Up 3.3%

Shares of Joby Aviation stock traded up $0.58 on Friday, reaching $18.09. The company's stock had a trading volume of 35,595,847 shares, compared to its average volume of 40,343,720. The company has a market capitalization of $14.32 billion, a P/E ratio of -21.54 and a beta of 2.47. Joby Aviation, Inc. has a 52-week low of $4.66 and a 52-week high of $18.55. The stock has a 50-day moving average price of $10.41 and a 200-day moving average price of $8.15.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm earned ($0.14) earnings per share. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Wall Street Zen raised Joby Aviation from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. HC Wainwright reissued a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.33.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 20,823 shares of the company's stock in a transaction 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 in the company, valued at $2,765,112.92. This represents a 9.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 500,001 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.38, for a total value of $6,190,012.38. Following the completion of the sale, the director owned 57,328,059 shares of the company's stock, valued at approximately $709,721,370.42. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,867,653 shares of company stock valued at $19,256,442 in the last three months. Company insiders own 28.50% of the company's stock.

About Joby Aviation

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.