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

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,575 shares of Joby Aviation 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 transaction, the insider directly owned 191,986 shares in the company, valued at approximately $1,388,058.78. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 shares were sold at an average price of $8.92, for a total transaction of $46,009.36.

Joby Aviation Stock Performance

NYSE:JOBY opened at $7.18 on Thursday. The firm has a 50-day moving average of $8.05 and a two-hundred day moving average of $9.13. 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 stock has a market cap of $7.10 billion, a P/E ratio of -7.25 and a beta of 2.73. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98.

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

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC lifted its stake in Joby Aviation by 3.5% during the second quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock valued at $8,210,000 after buying an additional 30,928 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Joby Aviation by 806.6% in the second quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock worth $22,915,000 after acquiring an additional 2,285,620 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at approximately $60,000. Echo45 Advisors LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at approximately $140,000. Finally, Odyssean LLC grew its position in Joby Aviation by 453.5% during the 2nd quarter. Odyssean LLC now owns 132,276 shares of the company’s stock worth $1,180,000 after purchasing an additional 108,379 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

JOBY has been the subject of several research reports. Susquehanna set a $18.00 price target on shares of Joby Aviation in a report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Morgan Stanley cut their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, 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. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.81.

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.