Sowell Financial Services LLC Invests $663,000 in Joby Aviation, Inc. $JOBY

Key Points

• Sowell Financial Services LLC acquired a new stake of 41,049 Joby Aviation shares in Q3, valued at about $663,000 per its latest 13F filing.
• Insiders sold a total of 83,002 shares over the last quarter (including Eric Allison and Kate Dehoff) for roughly $1.38 million, leaving insiders with about 28.5% ownership.
• Analyst sentiment is mixed-to-negative with a MarketBeat consensus rating of "Reduce" and a $13.43 target; Joby trades near $13 after reporting an EPS miss despite large year-over-year revenue growth.

Sowell Financial Services LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,049 shares of the company's stock, valued at approximately $663,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its stake in Joby Aviation by 20.0% in the 3rd quarter. Voya Investment Management LLC now owns 1,150,050 shares of the company's stock valued at $18,562,000 after buying an additional 192,064 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Joby Aviation in the 2nd quarter worth $461,000. Ring Mountain Capital LLC purchased a new stake in shares of Joby Aviation in the second quarter valued at about $211,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Joby Aviation during the second quarter worth about $1,018,000. Finally, Marex Group plc purchased a new position in Joby Aviation during the second quarter worth about $549,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Joby Aviation

In related news, insider Eric Allison sold 27,537 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the transaction, the insider owned 692,428 shares in the company, valued at $11,660,487.52. This trade represents a 3.82% 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 Kate Dehoff sold 20,824 shares of the business's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total value of $364,003.52. Following the sale, the insider directly owned 149,369 shares of the company's stock, valued at $2,610,970.12. This represents a 12.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 83,002 shares of company stock valued at $1,378,323 over the last quarter. Corporate insiders own 28.50% of the company's stock.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $13.21 on Thursday. The company has a market capitalization of $12.04 billion, a P/E ratio of -9.86 and a beta of 2.53. The business's 50-day moving average price is $14.72 and its two-hundred day moving average price is $14.73. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate 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 company earned ($0.21) earnings per share. The business's revenue was up 7962.1% compared to the same quarter last year. On average, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JOBY. The Goldman Sachs Group assumed coverage on Joby Aviation in a research report on Monday, December 1st. They set a "sell" rating and a $10.00 target price on the stock. Zacks Research upgraded shares of Joby Aviation from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 4th. Morgan Stanley lifted their price target on Joby Aviation from $7.00 to $15.00 and gave the company an "equal weight" rating in a report on Thursday, October 9th. HC Wainwright reissued a "neutral" rating on shares of Joby Aviation in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. boosted their price target on Joby Aviation from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $13.43.

About Joby Aviation

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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