Salem Investment Counselors Inc. Buys 5,000 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Salem Investment Counselors Inc. raised its stake in Joby Aviation, Inc. (NYSE:JOBY) by 5,000.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,100 shares of the company’s stock after buying an additional 5,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Joby Aviation were worth $41,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after acquiring an additional 670,852 shares during the last quarter. State Street Corp boosted its holdings in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares in the last quarter. Ieq Capital LLC grew its position in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after acquiring an additional 115,483 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Stock Down 1.4 %

Shares of Joby Aviation stock opened at $7.85 on Wednesday. The company has a market cap of $6.01 billion, a PE ratio of -11.21 and a beta of 2.33. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72. The business has a 50 day moving average price of $7.75 and a 200-day moving average price of $6.26.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JOBY shares. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC boosted their target price on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the transaction, the director now owns 58,994,729 shares of the company’s stock, valued at $471,957,832. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 638,982 shares of company stock valued at $5,586,157 over the last ninety days. Corporate insiders own 32.40% of the company’s stock.

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.