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

Key Points

• Valeo Financial Advisors LLC purchased 43,717 shares of Joby Aviation, amounting to approximately $461,000, during the second quarter, indicating growing institutional interest in the company.
• Joby Aviation's stock price performance has had multiple analyst downgrades, with firms like Canaccord Genuity and HC Wainwright adjusting their ratings and price targets for the stock.
• Insider trading activity included sales from executives, with significant shares sold, reflecting a 3.64% decrease in position for one insider, indicating potential concerns about the stock's future performance.

Valeo Financial Advisors LLC bought a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,717 shares of the company's stock, valued at approximately $461,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the period. Strs Ohio acquired a new stake in Joby Aviation in the first quarter valued at $37,000. Ameritas Advisory Services LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth $39,000. Decker Retirement Planning Inc. raised its stake in shares of Joby Aviation by 250.0% during the 1st quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock worth $42,000 after buying an additional 5,000 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Joby Aviation during the 1st quarter worth $43,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JOBY. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Monday, June 23rd. Canaccord Genuity Group downgraded Joby Aviation from a "buy" rating to a "hold" rating and lifted their price target for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright downgraded Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $10.50.

Insider Buying and Selling

In other Joby Aviation news, insider Bonny W. Simi sold 8,272 shares of Joby Aviation stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $138,804.16. Following the completion of the sale, the insider owned 219,206 shares in the company, valued at $3,678,276.68. The trade was a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $18.08, for a total value of $92,244.16. Following the completion of the transaction, the insider directly owned 98,104 shares in the company, valued at $1,773,720.32. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,330,881 shares of company stock worth $33,997,315 over the last ninety days. Insiders own 28.50% of the company's stock.

Joby Aviation Price Performance

JOBY opened at $17.38 on Thursday. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of -16.24 and a beta of 2.52. The business has a 50-day moving average of $15.80 and a two-hundred day moving average of $11.21. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. Joby Aviation's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period last year, the business earned ($0.18) EPS. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.

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