Ieq Capital LLC Acquires 1,807,054 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Ieq Capital LLC raised its holdings in Joby Aviation, Inc. (NYSE:JOBY) by 68.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,441,574 shares of the company’s stock after purchasing an additional 1,807,054 shares during the quarter. Ieq Capital LLC’s holdings in Joby Aviation were worth $22,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after purchasing an additional 64,404 shares during the period. Private Advisor Group LLC bought a new position in shares of Joby Aviation during the fourth quarter worth approximately $77,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Joby Aviation by 215.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after purchasing an additional 270,794 shares during the period. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Joby Aviation by 84.3% during the first quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after purchasing an additional 92,508 shares during the period. Institutional investors own 45.54% of the company’s stock.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $5.19 on Friday. The company has a market capitalization of $3.72 billion, a P/E ratio of -6.83 and a beta of 1.97. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $7.69. The business’s 50 day simple moving average is $5.51 and its 200 day simple moving average is $5.22.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the business posted ($0.17) EPS. On average, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the sale, the insider now owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the sale, the insider now owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,840 shares of company stock valued at $1,624,660. 32.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. HC Wainwright assumed coverage on Joby Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 9th. Finally, Canaccord Genuity Group reduced their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Joby Aviation Company 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.