Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 3,531 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,531 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $7.34, for a total value of $25,917.54. Following the completion of the sale, the insider owned 196,561 shares of the company’s stock, valued at $1,442,757.74. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, 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 value of $33,077.25.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The stock was 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 stock was sold at an average price of $8.92, for a total transaction of $46,009.36.

Joby Aviation Stock Up 0.6%

JOBY stock opened at $7.24 on Wednesday. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -7.31 and a beta of 2.73. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98. The firm has a fifty day moving average price of $8.10 and a two-hundred day moving average price of $9.15. 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. During the same quarter in the previous year, the business posted ($0.41) earnings per share. The company’s quarterly revenue was up 257493.3% compared to the same quarter last year. Research analysts predict that Joby Aviation, Inc. will post -1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on JOBY shares. Needham & Company LLC decreased their target price on Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Susquehanna set a $18.00 price target on Joby Aviation in a research report on Thursday, August 6th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Canaccord Genuity Group reduced their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Finally, Barclays upgraded Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Two 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. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $13.81.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its stake 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 acquiring an additional 2,285,620 shares during the period. Ameritas Advisory Services LLC bought a new stake in Joby Aviation during the second quarter worth approximately $60,000. Echo45 Advisors LLC bought a new stake in Joby Aviation during the second quarter worth approximately $140,000. Odyssean LLC lifted its position in Joby Aviation by 453.5% in the second quarter. Odyssean LLC now owns 132,276 shares of the company’s stock worth $1,180,000 after purchasing an additional 108,379 shares during the period. Finally, AXQ Capital LP acquired a new stake in Joby Aviation in the second quarter worth approximately $241,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Company Profile

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.