Joby Aviation (NYSE:JOBY) Stock: Insider Gregory Bowles Sells 6,138 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 6,138 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $6.35, for a total value of $38,976.30. Following the transaction, the insider owned 190,170 shares in the company, valued at approximately $1,207,579.50. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The shares were sold at an average price of $7.23, for a total value of $33,077.25.
• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The shares were 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 stock was 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 stock was sold at an average price of $8.92, for a total transaction of $46,009.36.

Joby Aviation Trading Up 0.7%

NYSE:JOBY opened at $6.30 on Friday. The company has a market capitalization of $6.23 billion, a P/E ratio of -6.36 and a beta of 2.68. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 12 month low of $5.93 and a 12 month high of $19.98. The firm has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $8.62.

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

Institutional Trading of Joby Aviation

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock worth $155,671,000 after acquiring an additional 390,794 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 2,645,200 shares during the period. Clear Street Group Inc. increased its stake in shares of Joby Aviation by 59.9% during the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock worth $47,428,000 after purchasing an additional 1,346,205 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after purchasing an additional 799,260 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Joby Aviation by 48.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company’s stock worth $22,133,000 after purchasing an additional 870,244 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JOBY shares. Wall Street Zen lowered 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 price objective on shares of Joby Aviation in a research note on Thursday, August 6th. Cantor Fitzgerald reissued a “neutral” rating on shares of Joby Aviation in a report on Monday. Barclays upgraded shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Finally, Needham & Company LLC cut their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.