Joby Aviation, Inc. $JOBY Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 9.1% during the 2nd quarter, Holdings Channel reports. The firm owned 10,032 shares of the company’s stock after selling 1,000 shares during the quarter. NorthRock Partners LLC’s holdings in Joby Aviation were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its stake in shares of Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after buying an additional 689 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Joby Aviation by 18.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 56,870 shares of the company’s stock valued at $600,000 after purchasing an additional 8,750 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Joby Aviation in the second quarter valued at about $119,000. Concurrent Investment Advisors LLC purchased a new position in shares of Joby Aviation in the second quarter worth about $304,000. Finally, Total Wealth Planning & Management Inc. boosted its position in Joby Aviation by 12.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 28,264 shares of the company’s stock valued at $298,000 after buying an additional 3,142 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling

In other Joby Aviation news, insider Eric Allison sold 27,537 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $16.84, for a total transaction of $463,723.08. Following the completion of the transaction, the insider owned 692,428 shares of the company’s stock, valued at $11,660,487.52. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kate Dehoff sold 20,824 shares of the business’s stock in a transaction that occurred on 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 owned 149,369 shares of the company’s stock, valued at $2,610,970.12. The trade was a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,830,880 shares of company stock worth $28,060,985 in the last quarter. 28.50% of the stock is owned by insiders.

Joby Aviation Trading Down 2.4%

Shares of JOBY opened at $15.68 on Friday. The firm has a market cap of $13.42 billion, a P/E ratio of -14.65 and a beta of 2.52. Joby Aviation, Inc. has a 12 month low of $4.80 and a 12 month high of $20.95. The stock’s 50 day moving average is $15.62 and its two-hundred day moving average is $11.71.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter last year, the business earned ($0.18) EPS. Joby Aviation’s quarterly revenue was down 94.6% on a year-over-year basis. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JOBY shares. Morgan Stanley upped their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and boosted their price target for the company from $12.00 to $17.00 in a report on Thursday, August 7th. HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Zacks Research lowered shares of Joby Aviation from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.83.

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.