Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 3,486 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,486 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64. Following the transaction, the insider owned 186,921 shares in the company, valued at $2,007,531.54. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Tuesday, May 26th, Gregory Bowles sold 4,602 shares of Joby Aviation stock. The shares were sold at an average price of $11.47, for a total transaction of $52,784.94.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total transaction of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The shares were sold at an average price of $9.90, for a total transaction of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total transaction of $12,013.00.

Joby Aviation Stock Performance

NYSE JOBY opened at $11.54 on Wednesday. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $11.35 billion, a P/E ratio of -10.03 and a beta of 2.61. Joby Aviation, Inc. has a 12-month low of $6.72 and a 12-month high of $20.95. The firm has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $11.70.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

JOBY has been the subject of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Morgan Stanley dropped their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Finally, Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.06.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the company. Pier 88 Investment Partners LLC bought a new stake in Joby Aviation in the third quarter worth about $635,000. DNB Asset Management AS raised its position in Joby Aviation by 16.3% in the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after acquiring an additional 51,344 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Joby Aviation in the third quarter worth about $2,830,000. Kingsview Wealth Management LLC raised its position in Joby Aviation by 838.2% in the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock worth $1,562,000 after acquiring an additional 86,446 shares during the period. Finally, Vanguard Group Inc. raised its position in Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.