Gregory Bowles Sells 4,575 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,575 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $7.23, for a total transaction of $33,077.25. Following the transaction, the insider owned 191,986 shares in the company, valued at approximately $1,388,058.78. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gregory Bowles also recently made the following trade(s):

• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The stock was sold at an average price of $7.34, for a total transaction of $25,917.54.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total transaction of $42,988.40.
• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $46,009.36.

Joby Aviation Stock Performance

NYSE JOBY traded up $0.05 on Tuesday, hitting $7.24. 21,939,290 shares of the company’s stock were exchanged, compared to its average volume of 32,496,830. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -7.31 and a beta of 2.73. The firm’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $9.17. Joby Aviation, Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $19.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business had revenue of $38.64 million during the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter last year, the firm earned ($0.41) earnings per share. The firm’s quarterly revenue was up 257493.3% compared to the same quarter last year. On average, research analysts expect that Joby Aviation, Inc. will post -1 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on JOBY. Morgan Stanley decreased their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, August 6th. Barclays raised shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $13.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JOBY. California State Teachers Retirement System boosted its position in shares of Joby Aviation by 806.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock worth $22,915,000 after buying an additional 2,285,620 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Joby Aviation during the 2nd quarter valued at about $60,000. Echo45 Advisors LLC acquired a new position in Joby Aviation during the second quarter worth about $140,000. Odyssean LLC raised its position in Joby Aviation by 453.5% during the second quarter. Odyssean LLC now owns 132,276 shares of the company’s stock worth $1,180,000 after acquiring an additional 108,379 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Joby Aviation in the second quarter valued at about $241,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.