Kingsview Wealth Management LLC Sells 32,418 Shares of Joby Aviation, Inc. $JOBY

Kingsview Wealth Management LLC lowered its position in Joby Aviation, Inc. (NYSE:JOBY) by 75.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,313 shares of the company’s stock after selling 32,418 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Joby Aviation were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JOBY. Toyota Motor Corp boosted its holdings in Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares during the period. Geode Capital Management LLC lifted its holdings in Joby Aviation by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after buying an additional 573,328 shares in the last quarter. Rheos Capital Works Inc. boosted its position in Joby Aviation by 58.2% in the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after buying an additional 2,650,000 shares during the period. ARK Investment Management LLC grew its stake in Joby Aviation by 1.9% in the 2nd quarter. ARK Investment Management LLC now owns 3,507,405 shares of the company’s stock worth $37,003,000 after acquiring an additional 64,562 shares in the last quarter. Finally, Nuveen LLC bought a new position in Joby Aviation in the 1st quarter worth about $18,936,000. Institutional investors own 52.85% of the company’s stock.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 52,907 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $15.76, for a total transaction of $833,814.32. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at $2,354,055.44. The trade was a 26.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 253,600 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $16.29, for a total transaction of $4,131,144.00. Following the sale, the chief executive officer directly owned 60,273,162 shares of the company’s stock, valued at $981,849,808.98. The trade was a 0.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,146,267 shares of company stock worth $17,729,562. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Trading Up 0.4%

JOBY opened at $13.09 on Monday. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of -9.77 and a beta of 2.52. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95. The stock has a fifty day moving average price of $15.93 and a 200-day moving average price of $13.47.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Thursday, November 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to the consensus estimate of $0.02 million. Joby Aviation’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Joby Aviation currently 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.