Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 3,486 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,486 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $10.74, for a total transaction of $37,439.64. Following the completion of the transaction, the insider directly owned 186,921 shares of the company’s stock, valued at approximately $2,007,531.54. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 Tuesday, May 26th, Gregory Bowles sold 4,602 shares of Joby Aviation stock. The shares were sold at an average price of $11.47, for a total transaction of $52,784.94.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total transaction of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The shares were sold at an average price of $9.90, for a total transaction of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total transaction of $12,013.00.

Joby Aviation Price Performance

Shares of JOBY stock traded up $0.62 on Tuesday, reaching $11.54. The company’s stock had a trading volume of 48,574,295 shares, compared to its average volume of 27,856,816. The stock’s fifty day simple moving average is $9.37 and its 200-day simple moving average is $11.70. Joby Aviation, Inc. has a 1 year low of $6.72 and a 1 year high of $20.95. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of -10.03 and a beta of 2.61.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same period last year, the firm posted ($0.11) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pier 88 Investment Partners LLC bought a new stake in shares of Joby Aviation during the third quarter worth $635,000. DNB Asset Management AS lifted its position in shares of Joby Aviation by 16.3% during the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after purchasing an additional 51,344 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Joby Aviation during the third quarter worth $2,830,000. Kingsview Wealth Management LLC lifted its position in shares of Joby Aviation by 838.2% during the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock worth $1,562,000 after purchasing an additional 86,446 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 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 during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on JOBY shares. Canaccord Genuity Group cut their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $13.06.

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.