Kaizen Financial Strategies Sells 5,000 Shares of Joby Aviation, Inc. $JOBY

Kaizen Financial Strategies lessened its stake in Joby Aviation, Inc. (NYSE:JOBY) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,804 shares of the company’s stock after selling 5,000 shares during the period. Kaizen Financial Strategies’ holdings in Joby Aviation were worth $125,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew its stake in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after acquiring an additional 750 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Joby Aviation in the second quarter worth approximately $39,000. Solstein Capital LLC bought a new position in Joby Aviation in the second quarter worth approximately $47,000. AlphaQuest LLC increased its holdings in Joby Aviation by 225.8% during the 2nd quarter. AlphaQuest LLC now owns 5,444 shares of the company’s stock worth $57,000 after purchasing an additional 3,773 shares during the period. Finally, Strs Ohio bought a new stake in Joby Aviation during the 1st quarter valued at $37,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

Joby Aviation stock opened at $16.31 on Thursday. Joby Aviation, Inc. has a 1-year low of $4.96 and a 1-year high of $20.95. The business has a fifty day moving average price of $15.88 and a 200-day moving average price of $13.06. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of -12.17 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to the consensus estimate of $0.02 million. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. On average, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 5,102 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.08, for a total value of $92,244.16. Following the completion of the transaction, the insider owned 98,104 shares in the company, valued at $1,773,720.32. This trade represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $18.09, for a total value of $86,397.84. Following the sale, the insider directly owned 156,464 shares of the company’s stock, valued at $2,830,433.76. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,657,424 shares of company stock worth $25,068,869 over the last ninety days. Company insiders own 28.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. HC Wainwright lowered shares of Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $14.00.

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.