Cresset Asset Management LLC Invests $246,000 in Joby Aviation, Inc. (NYSE:JOBY)

Cresset Asset Management LLC acquired a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, HoldingsChannel reports. The fund acquired 30,272 shares of the company’s stock, valued at approximately $246,000.

Several other large investors also recently modified their holdings of the stock. Cetera Investment Advisers grew its position in Joby Aviation by 30.8% in the 4th quarter. Cetera Investment Advisers now owns 38,276 shares of the company’s stock valued at $311,000 after purchasing an additional 9,019 shares during the period. Bosun Asset Management LLC acquired a new stake in Joby Aviation in the 4th quarter valued at $906,000. Captrust Financial Advisors acquired a new stake in Joby Aviation in the 4th quarter valued at $172,000. BNP Paribas Financial Markets acquired a new stake in Joby Aviation in the 4th quarter valued at $495,000. Finally, Ameriprise Financial Inc. acquired a new stake in Joby Aviation in the 4th quarter valued at $498,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insider Buying and Selling

In other Joby Aviation news, insider Kate Dehoff sold 9,720 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $6.00, for a total transaction of $58,320.00. Following the transaction, the insider now directly owns 219,366 shares in the company, valued at $1,316,196. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now owns 146,941 shares in the company, valued at $996,259.98. The trade was a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 753,766 shares of company stock worth $4,659,968. Insiders own 28.50% of the company’s stock.

Joby Aviation Stock Up 3.1%

NYSE JOBY opened at $7.39 on Friday. The company has a market cap of $5.82 billion, a PE ratio of -10.55 and a beta of 2.34. Joby Aviation, Inc. has a 52 week low of $4.66 and a 52 week high of $10.72. The firm’s 50-day simple moving average is $6.28 and its two-hundred day simple moving average is $7.12.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JOBY shares. Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, May 5th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, 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. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

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.