Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,575 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $7.23, for a total transaction of $33,077.25. Following the completion of the transaction, the insider directly owned 191,986 shares of the company’s stock, valued at $1,388,058.78. This represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The stock was sold at an average price of $7.34, for a total value of $25,917.54.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total value of $42,988.40.
• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $46,009.36.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $7.24 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The company has a market cap of $7.16 billion, a price-to-earnings ratio of -7.31 and a beta of 2.73. The stock’s 50-day moving average is $8.10 and its two-hundred day moving average is $9.15. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million during the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the previous year, the business posted ($0.41) EPS. The business’s quarterly revenue was up 257493.3% compared to the same quarter last year. Analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after buying an additional 390,794 shares in the last quarter. State Street Corp boosted its holdings in shares of Joby Aviation by 5.0% in the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after buying an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Joby Aviation by 6.6% in 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 buying an additional 271,475 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Joby Aviation by 41.2% in 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 buying an additional 1,223,412 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JOBY shares. Weiss Ratings upgraded shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Needham & Company LLC reduced their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Susquehanna set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, August 6th. Finally, HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $13.81.

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.