Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 3,402 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,402 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $14.56, for a total transaction of $49,533.12. Following the completion of the sale, the insider directly owned 161,034 shares of the company’s stock, valued at $2,344,655.04. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, August 25th, Gregory Bowles sold 7,754 shares of Joby Aviation stock. The stock was sold at an average price of $14.80, for a total transaction of $114,759.20.
• On Thursday, July 3rd, Gregory Bowles sold 7,961 shares of Joby Aviation stock. The shares were sold at an average price of $10.28, for a total transaction of $81,839.08.
• On Wednesday, July 2nd, Gregory Bowles sold 3,494 shares of Joby Aviation stock. The shares were sold at an average price of $9.82, for a total transaction of $34,311.08.

Joby Aviation Trading Down 2.1%

Shares of Joby Aviation stock opened at $14.42 on Thursday. The stock’s fifty day simple moving average is $14.39 and its 200 day simple moving average is $9.46. The company has a market capitalization of $12.34 billion, a PE ratio of -13.47 and a beta of 2.52. Joby Aviation, Inc. has a 12 month low of $4.70 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the firm posted ($0.18) earnings per share. The firm’s revenue was down 94.6% on a year-over-year basis. Analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Joby Aviation in the 4th quarter valued at $121,000. Deutsche Bank AG increased its position in shares of Joby Aviation by 26.0% in the fourth quarter. Deutsche Bank AG now owns 350,784 shares of the company’s stock valued at $2,852,000 after acquiring an additional 72,329 shares during the last quarter. GAMMA Investing LLC raised its holdings in Joby Aviation by 5,161.0% during the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after acquiring an additional 33,443 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Joby Aviation during the fourth quarter worth about $495,000. Finally, California State Teachers Retirement System boosted its position in Joby Aviation by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock valued at $1,512,000 after purchasing an additional 2,065 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and boosted their price target for the company from $12.00 to $17.00 in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

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.