Sound Income Strategies LLC Buys 11,471 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Sound Income Strategies LLC boosted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 111.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,773 shares of the company’s stock after acquiring an additional 11,471 shares during the period. Sound Income Strategies LLC’s holdings in Joby Aviation were worth $177,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JOBY. Bouvel Investment Partners LLC raised its position in shares of Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,715 shares in the last quarter. Tidal Investments LLC increased its holdings in Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after purchasing an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after buying an additional 3,653 shares during the period. Amalgamated Bank boosted its holdings in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC raised their target price on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the sale, the insider now directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,338 shares of company stock worth $5,864,050 in the last quarter. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Trading Up 1.0 %

JOBY stock opened at $8.75 on Friday. The business has a 50-day simple moving average of $8.14 and a two-hundred day simple moving average of $6.41. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the firm earned ($0.13) EPS. On average, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

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.