Valeo Financial Advisors LLC Acquires Shares of 43,717 Joby Aviation, Inc. $JOBY

Key Points

• Valeo Financial Advisors purchased a new position of 43,717 shares of Joby Aviation (NYSE:JOBY) in Q2, valued at about $461,000.
• Joby’s recent quarter missed EPS estimates (reported -$0.48 vs. -$0.19 expected) despite a large revenue jump, and analysts hold a consensus rating of "Reduce" with an average price target of $13.43 (mix of 1 Buy, 5 Hold, 3 Sell).
• Insiders sold a total of 654,801 shares worth ~$10.7M in the last quarter while insiders still own 28.5% of the company and institutional investors hold 52.85%.

Valeo Financial Advisors LLC bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 43,717 shares of the company's stock, valued at approximately $461,000.

Other hedge funds have also 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 acquiring an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC boosted its position 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 purchasing an additional 750 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth $39,000. Solstein Capital LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth $47,000. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Joby Aviation by 954.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company's stock valued at $57,000 after purchasing an additional 4,860 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $13.87 on Friday. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95. The company has a market capitalization of $12.65 billion, a P/E ratio of -10.35 and a beta of 2.53. The business has a 50 day moving average price of $15.20 and a 200 day moving average price of $14.35.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its 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 business had revenue of $22.57 million during the quarter, compared to analysts' expectations of $0.02 million. During the same quarter in the previous year, the business posted ($0.21) EPS. The business's revenue was up 7962.1% compared to the same quarter last year. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JOBY. HC Wainwright reissued a "neutral" rating on shares of Joby Aviation in a report on Monday, November 24th. The Goldman Sachs Group started coverage on Joby Aviation in a research note on Monday, December 1st. They set a "sell" rating and a $10.00 price target on the stock. Zacks Research upgraded Joby Aviation from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a report on Wednesday, October 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Joby Aviation currently has a consensus rating of "Reduce" and an average price target of $13.43.

Insider Activity

In other Joby Aviation news, insider Bonny W. Simi sold 8,272 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $138,804.16. Following the transaction, the insider directly owned 219,206 shares in the company, valued at approximately $3,678,276.68. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 20,824 shares of Joby Aviation stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total transaction of $364,003.52. Following the sale, the insider owned 149,369 shares of the company's stock, valued at approximately $2,610,970.12. This trade represents a 12.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 654,801 shares of company stock worth $10,697,118 in the last quarter. Corporate insiders own 28.50% of the company's stock.

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.

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