Flagship Harbor Advisors LLC Acquires 10,370 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Flagship Harbor Advisors LLC boosted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 51.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,476 shares of the company’s stock after purchasing an additional 10,370 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Joby Aviation were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bouvel Investment Partners LLC grew its stake in Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after buying an additional 1,715 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares during the period. Kensington Investment Counsel LLC grew its position in shares of Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after purchasing an additional 3,653 shares during the last quarter. Amalgamated Bank increased its stake in shares of Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after purchasing an additional 4,391 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kate Dehoff sold 6,205 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the sale, the insider now owns 215,947 shares in the company, valued at $1,749,170.70. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 672,338 shares of company stock valued at $5,864,050. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Stock Down 0.4 %

Shares of Joby Aviation stock opened at $8.34 on Thursday. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $10.72. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -11.91 and a beta of 2.33. The firm’s 50-day moving average price is $8.29 and its two-hundred day moving average price is $6.48.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the prior year, the business posted ($0.13) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

JOBY has been the topic of several recent research reports. Needham & Company LLC increased their price objective on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $5.00 to $6.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

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.