Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $38,976.30 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 6,138 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $6.35, for a total transaction of $38,976.30. Following the transaction, the insider owned 190,170 shares of the company’s stock, valued at approximately $1,207,579.50. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The stock was sold at an average price of $7.23, for a total transaction of $33,077.25.
• 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 transaction of $46,009.36.

Joby Aviation Price Performance

JOBY opened at $6.33 on Friday. The stock has a market cap of $6.26 billion, a P/E ratio of -6.39 and a beta of 2.68. Joby Aviation, Inc. has a 12 month low of $5.93 and a 12 month high of $19.98. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $7.16 and a 200 day simple moving average of $8.60.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $30.20 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. Joby Aviation’s revenue for the quarter 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.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after buying an additional 2,645,200 shares during the last quarter. Norges Bank bought a new stake in Joby Aviation in the 4th quarter valued at $32,269,000. Clear Street Group Inc. raised its stake in Joby Aviation by 59.9% in the 4th quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after acquiring an additional 1,346,205 shares during the period. USS Investment Management Ltd acquired a new stake in Joby Aviation during the 1st quarter valued at $8,868,000. Finally, Seven Grand Managers LLC bought a new position in Joby Aviation during the fourth quarter worth $13,200,000. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on JOBY shares. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a research note on Monday. Barclays upgraded shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.