Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,776 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.09, for a total value of $86,397.84. Following the sale, the insider directly owned 156,464 shares in the company, valued at $2,830,433.76. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, October 2nd, Gregory Bowles sold 3,493 shares of Joby Aviation stock. The shares were sold at an average price of $16.78, for a total value of $58,612.54.
• On Monday, September 22nd, Gregory Bowles sold 12,900 shares of Joby Aviation stock. The shares were sold at an average price of $15.75, for a total value of $203,175.00.
• On Monday, August 25th, Gregory Bowles sold 7,754 shares of Joby Aviation stock. The shares were sold at an average price of $14.80, for a total value of $114,759.20.
• On Friday, August 22nd, Gregory Bowles sold 3,402 shares of Joby Aviation stock. The shares were sold at an average price of $14.56, for a total value of $49,533.12.

Joby Aviation Trading Up 2.6%

Shares of JOBY opened at $18.26 on Friday. The business’s 50 day moving average is $15.70 and its 200 day moving average is $10.95. The company has a market capitalization of $15.63 billion, a PE ratio of -17.06 and a beta of 2.52. Joby Aviation, Inc. has a 12-month low of $4.80 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. The company’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Saturday, September 27th. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $10.50.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. Ameriprise Financial Inc. purchased a new position in shares of Joby Aviation in the 4th quarter worth approximately $498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Joby Aviation by 15.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company’s stock worth $3,617,000 after purchasing an additional 57,929 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Joby Aviation in the 4th quarter worth approximately $121,000. California State Teachers Retirement System boosted its holdings in shares of Joby Aviation by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Joby Aviation by 5,161.0% in the 1st quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after purchasing an additional 33,443 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.