Gregory Bowles Sells 4,602 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,602 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.47, for a total value of $52,784.94. Following the transaction, the insider directly owned 182,319 shares of the company’s stock, valued at $2,091,198.93. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a 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 Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The stock was sold at an average price of $10.74, for a total value of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The stock was sold at an average price of $9.90, for a total value of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total value of $12,013.00.

Joby Aviation Stock Up 5.7%

NYSE JOBY traded up $0.62 during trading on Tuesday, reaching $11.54. 48,574,295 shares of the company’s stock were exchanged, compared to its average volume of 27,856,816. The stock has a market cap of $11.35 billion, a P/E ratio of -10.03 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The company has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $11.70. Joby Aviation, Inc. has a 1 year low of $6.72 and a 1 year high of $20.95.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Morgan Stanley decreased their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $13.06.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. Geode Capital Management LLC raised its stake in Joby Aviation by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after acquiring an additional 390,794 shares during the last quarter. State Street Corp raised its stake in Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after acquiring an additional 512,129 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock valued at $57,697,000 after acquiring an additional 271,475 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock valued at $67,661,000 after acquiring an additional 1,223,412 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.